The U.N.’s Food and Agricultural Organization’s Food Price Index averaged 121.5 points in September, basically unchanged from the value in August. Declines in the price index for vegetable oils, dairy, and meat offset increases in the sugar and cereal price indices.
That 121.5 reading was ten percent below its corresponding level from a year ago and 24 percent from the all-time high in March 2022. The Sugar Price Index took the biggest jump in September, rising 14.5 points from August to an average of 162.7 points. It’s the highest level since November 2010. The Cereal Price Index rose one percent to 126.3 points in September. The Vegetable Oil Price Index dropped five points in September to average 120.9 points.
The Dairy Price Index averaged 108.6 points during the month, down 2.6 points and 34 points under the same time last year. The Meat Price Index dropped one percent to 114.2 points.
