Global food prices decreased in August

Global food prices fell in August. The Food and Agriculture Organization’s (FAO) index decreased by 1.3 percent to 176.6 points from the previous month’s 178.9 points.

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In the three months before August, prices were rising in monthly comparisons. At the same time, the index was 10 points higher than the 166.6 points in August last year, which is a 6 percent rise in prices.

FAO’s food price index is a trade-weighted index that takes the international market prices of the five most important food raw materials – vegetable oils, grain crops, meat, dairy products and sugar – into account. (MTI)