World food prices fell slightly in July as a decline in the cereal index was partially offset by increases in meat, vegetable oils and sugar prices.
The world food price index, which tracks monthly changes in prices of cereals, oilseeds, dairy products, meat and sugar and is compiled by the Food and Agriculture Organization of the United Nations (FAO), fell to 120.8 in July from a revised 121.0 in June.
The June food price index was previously announced as 120.6.
The food price index in July was 3.1 percent below the previous year’s level and 24.7 percent below the peak level in 2022.
World food prices hit their lowest level in the last three years in February this year, as they continued to decline from the historic peak seen in March 2022 following Russia’s invasion of Ukraine.
