FAO Food Price Index: Global food prices have dropped more than 10% since last October
The FAO Food Price Index for October 2023 is out. Where do global food prices stand, and which categories saw the largest gains?
This month’s FAO Food Price Index is out. The index measures the monthly change in the price of food commodities around the globe. Where do global food prices stand, and which categories saw the largest gains?
The FAO Food Prince Index for October was down 0.5 percent from September, and almost 11 percent below this time last year.
Most categories were down, following a recent trend that started about a year ago. This comes with declines in sugar, cereals, vegetable oils, and meat.
Here are some key takeaways from this month’s report:
- Dairy saw an increase, up 2.2 percent, but still around 20 percent off a year ago.
- The cereal price index was down one percent.
- Vegetable oil was down to 0.7.
- Meat was down 0.6 percent, and sugar fell 2.2 percent.