On Slide 1, beginning in the early 1950s, we can see a relatively large number of episodes in which food prices spiked. In some of these episodes, the spikes were significantly sharper than in others and many of them, particularly during the more recent decades, were relatively short-lived.
Of course, the most vivid ones were the two that followed closely in the late 1960s and the early 1970s. We have apparently had nothing comparable since then in terms of the peak rates of inflation.