Food prices are falling... slightly
Food prices are falling, but only slightly. The Food and Ag Organization‘s June price index is in and showed an overall decline, but is still 29 percent higher than the same time last year.
Looking at how prices dropped from May, the cereal index is down about 4 percent. Vegetable oil dropped 7.6 percent, and the sugar index fell 2.6 percent. On the other hand, both meat and dairy were up in June.