Food prices on two year peak

Global food prices increased in August for the third consecutive month. FAO’s global price index increased to its two year peak.

The FAO food price index – which records the monthly price changes, on the basis of  a specific basket of food products – stands on 175.9 points, which is the highest since September 2008.
At the same time, FAO found that this year's global wheat harvest will be 646 million tonnes. This is 5 percent smaller than last year’s harvest. Primarily due to drought, moderate wheat crop is expected in Russia – reports privatbankar.hu.