Global food prices were virtually unchanged last month, but they are still high

World food prices held steady in November, showing only a marginal decrease from the prior month.

The United Nations World Food Price Index is only two-tenths of a point lower from October, sitting at 135.7. Lower prices for cereals, meats, and dairy offset higher vegetable oil and sugar prices.

However, the Index remains at historically high levels after peaking last year. The U.N. says harvest setbacks and brisk demand from China are the main reasons.