The United Nations’ Food and Agriculture Organization says its Food Price Index stood at 120.7 points in August, down marginally from July 2024.
Decreases in the price indexes for sugar, meat, and cereals outweighed increases for those in vegetable oils and dairy products. The Food Price Index was 1.1 percent lower than August 2023 and 25 percent below the 160.3 points reached in March 2022. The Cereal Price Index averaged 110.1 points in August, down 0.6 points from July and 15 points below last year. The Sugar Price Index had the biggest drop, down almost six points from July to 113.9 points, 34 points lower than August 2023. The Dairy Price Index had the biggest jump, rising 2.8 points from July to 130.6 points, 16 points above last year. The Vegetable Oil Price Index hit 136 points, one point higher than in July, while the Meat Index was up 0.9 points to 119.5.
