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[BUSINESS] · UN · 60 sources

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Global food prices reach highest levels since late 2022

Global food prices have reached their highest levels since late 2022. The FAO Food Price Index rose to 133.3 points in August, representing a 1.9% increase from July and a 2.5% increase compared to the previous year.

Several factors are driving this upward trend, including climate change and ongoing conflicts. Specifically, escalating attacks in the Black Sea region are raising concerns about food supply stability. FAO Chief Economist Maximo Torero noted that the August price increase suggests a 'risk premium' is returning to global food markets.

In Argentina, local inflation continues to impact costs; in Buenos Aires, the Total Basic Basket reached $1,651,798.05 in August.

Entities

Black Sea · Brazil · El Niño · European Union · FAO · Food and Agriculture Organization of the United Nations · India · Máximo Torero · Russia · Ukraine · United Nations · Vladimir Putin

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7 days ago
6 days ago