FAO: The FAO Food Price Index rose 1.1 points (0.9%) in May as the price index for cereals and dairy products rose this month.

The FAO Food Price Index averaged 120.4 points in May 2024, up 1.1 points (0.9%) from the revised index in April. Cereals and dairy prices rose this month, offsetting declines in sugar and vegetable oil quotations, while the meat price index was essentially unchanged from the previous month. Although the food price index has risen for three consecutive months-on-months, it is still down 3.4% compared to the same period of the previous year and 24.9% from the historical peak of 160.2 points in March 2022.