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The Food Price Index of the United Nations Food and Agriculture Organisation (FAO) fell by 1.9% in August compared to July. It is the fifth consecutive month that the average index has fallen. The index was still 7.9% higher than in August 2021. The FAO looks at the global development of prices for cereals, vegetable oils, sugar, meat and dairy products for the index.
The index for cereals decreased by 1.4% compared to July, but was still 11.4% above the value of August 2021. The index for vegetable oils decreased by more than 3% and is below last year's level. For sugar, the price index decreased by 2% and reached its lowest level since July last year. The dairy price index decreased by 2%, but is still 23.8% above last year's value. The index for meat is 1.5% lower than in July.
Source: FAO
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