UN food price index fell for fourth month in July

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UNITED NATIONS (TUSEN) – The UN Food and Agriculture Agency’s global food price index fell for the fourth straight month in July but was still 13% higher than in July 2021, the agency reported Friday.

The FAO said last month’s 8.6% decline was the index’s strongest monthly decline since October 2008. The index reached a record high in March, immediately after Russia’s February 24 invasion of Ukraine.

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The overall decline in the July index was led by significant declines in vegetable oil and grain indices and smaller declines in sugar, dairy and meat indices, the FAO said.

The FAO Food Price Index measures the monthly change in international prices of a basket of food commodities. It consists of the average of five commodity groups: grains, vegetable oil, meat, dairy and sugar.

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