Growing global food prices

Food prices in August rose to their highest level in 15 months as advancing dairy and palm oil markets outweighed weakness in grains, which have been depressed by prospects of bumper harvests in key growing regions.

The FAO Food Price Index (FFPI) averaged 165.6 points in August 2016, up 3 points (1.9 percent) from July and almost 7 percent above the corresponding period last year. The August value of the Index is the highest since May 2015. Except for cereals, prices of all other commodities used in the calculation of the FFPI rose in August, led by dairy, oils and sugar.