Inflation Relaxation: food prices are easing slightly after record highs
World food prices eased last month after surging to their highest level in history in March, thanks to declines in vegetable oil and cereal prices.
The food index was down about 1 percentage point from March’s all-time high at 158.5 points but is still 30 percent higher than last year. Global vegetable oil prices decreased about 6 percent and cereal prices declined .7 percent, nudged by a percent in world corn prices.
Sugar and dairy both were up slightly.