The FAO’s food price snapped back to nearly where it was in May. Domestic food prices are still in check, but there’s a risk on the horizon
Global food prices were sending comforting signals the past few months, with a decline seen in most categories in the FAO’s Food Price Index. However, August shows the index snapping back to just below the high level it had reached in May, gaining by 3 percent sequentially and by 33 percent over a year ago. (image) The spike was led by cereals, edible oils and sugar. The cereals sub-index rose by 3.4 percent sequentially as wheat prices rose on lower…
