World food prices hit 3-year high in July as weather and war weigh, FAO says
The UN's FAO Food Price Index rose to its highest level in over three years in July, driven by a 3.4% increase in cereal prices and a 5.8% jump in wheat prices.
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World food prices rose in July to their highest in more than three years as adverse weather and war escalation in the Gulf and Black Sea supported crop markets, the United Nations' Food and Agriculture Organization said on Friday. The FAO Food Price Index, which tracks monthly changes in a basket of internationally traded food commodities, averaged 131.1 points in July, up from 130.3 in June and the highest reading since January 2023.
A 3.4% month-on-month rise in the FAO's Cereal Price Index drove the trend, fuelled in turn by a 5.8% jump in wheat prices, the agency said.
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