A worldwide increase in inflation began in mid-2021, with many countries seeing their highest inflation rates in decades. This also leads to global food prices increasing to their highest level since the UN's Food Price Index began in 1990, with commodities such as wheat rising by nearly 20% as a result of the Ukraine crisis.

The worldwide increase in inflation and subsequent rise in global food prices in mid-2021 should be selected for the Web3 Archive 2022 as it represents a significant event in recent history and highlights the impact of geopolitical events on the global economy.