The Food Price Index averaged 127.5 points in November 2024, up 0.5 percent from the October level, and reached its highest value since April 2023.
The increase was driven by higher price quotations for dairy products and vegetable oil, which slightly outweighed declines in the meat, cereals, and sugar indexes. The Index was 5.7 percent higher than its corresponding value in November 2023. The number is also 21 percent below its peak of 160.2 points reached in March 2022. The Cereal Price Index averaged 111.4 points in November, down three points from October. The Vegetable Oil Price Index took the biggest jump, rising 11.4 points to 164.1 in November. The FAO Dairy Price Index was 139.9 points, up just under a full point from October. The Meat Price Index averaged 118.1 points in November, 0.9 points lower than in October, and the Sugar Price Index averaged 126.4 points, down 3.1 points.
