World food commodity prices fall in October but remain higher than a year ago
International food commodity prices fell in October, but remained higher than a year earlier, according to the UN food agency.
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The UN Food and Agriculture Organization’s food price index averaged 133.9 points in October, down 1.2% from September. It remained 5.9% higher than a year earlier, though 16.4% below its March 2022 peak.
September’s initial reading was the highest since November 2022. It was subsequently revised down to 135.6 points, Reuters reported.
The indices for cereals, dairy and meat all fell in October. Not every category became cheaper, however: the vegetable oil index rose by 0.3%, while the sugar index increased by 6.6%.
The FAO index tracks international prices for a basket of food commodities; it is not a direct measure of prices in shops.
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