November 11, 2024

World Food Price Index Hits 18-Month High on Production Concerns

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Global food prices hit the highest level in 18-months in October, with unfavorable weather raising production concerns for many commodities and threatening to keep consumer costs higher for longer.

An index of food-commodity prices created by the United Nations’ Food and Agriculture Organization rose to the highest since April 2023, according to data released on Friday. The gauge — that tracks grains, sugar, meat, dairy and vegetable oils costs — rose 2% in October, led by a jump in the cost of vegetable oils.

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