World Food Prices Dip in October, but Remain Higher Than a Year Ago
World food prices edged lower in October as weaker import demand contributed to monthly declines in cereal, dairy and meat prices, but were still nearly 6% higher than a year earlier, the United Nations' Food and Agriculture Organization said on Friday. The FAO Food Price Index, which tracks monthly changes in international prices for a basket of food commodities, averaged 133.9 points in October, down from a revised 135.6 in September. The index was 5.9% higher than a year earlier, but remained 16.4% below its March 2022 peak.
