What has been the impact of yet another food price spike on the ability of developing countries to make progress toward the Millennium Development Goals (MDGs)? How many poor people were prevented from lifting themselves out of poverty? How many people, and how many children, saw their personal growth and development permanently harmed because their families could not afford to buy food? How did countries react to the last two food price spikes of 2007–08 and 2010–11, and how did their reaction affect their progress toward the MDGs? And what can countries do to respond to higher and more volatile food prices? The 2012 Global Monitoring Report (GMR) addresses these basic questions. It summarizes effects of food prices on several MDGs. It reviews policy responses—including domestic social safety nets, nutritional programs, agricultural policies, regional trade policies, and support by the international community. And it outlines future prospects.