Global food prices moderating

Global food prices declined in December from November, but were still 14 per cent higher than a year ago, reports the United Nations’ Food and Agriculture Organization.

Its index for December stood at 132.4 points, down from 135 in November.

For the year as a whole, the benchmark averaged 143.7 points, 18 more than 2021, an increase of 14.3 per cent.

The decline in the index in December was driven by a steep drop in the international price of vegetable oils, together with some declines in cereal and meat prices, but mitigated by slight increases in those of sugar and dairy, the FAO said.