Global food prices dipped in December

World food prices fell during the month of December but 2022 was still a record year.

The United Nations’ World Food Price Index was 1.9 percent lower than in November sitting at 132.4. On the year, however, the international price of commodities was more than 14 percent higher.

Vegetable oil and cereal prices both fell last month. The dairy price index was up more than a percentage point in December following months of declines.