Global food prices are dropping, but are still high
Global food prices continue to drop but still remain significantly higher than a year ago.
Today’s FAO Food Price Index showed a steep drop in July of nearly 9 percent, but they are still 13 percent higher on the year. The July decline was the most drastic since 2008.
Vegetable oil and cereals came down significantly. Sugar, dairy, and meat also fell, but to a lesser extent.