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.
Related Stories
Low prices are painful now, but production response could support stronger milk markets later in 2026.
Policies aimed at ground beef prices may primarily reshape dairy incentives rather than deliver lasting consumer savings.
Strong seasonal demand and manageable production growth continue to support poultry markets.
UT Extension also offers tips to help consumers stretch their grocery budgets, including meal planning, sticking to a shopping list, and choosing store or generic brands.
