LONDON—The United Nations food agency’s world price index declined again in July, edging further away from record highs hit in March.
The Food and Agriculture Organization’s (FAO) food price index, which tracks the most globally traded food commodities, averaged 140.9 points last month versus a revised 154.3 for June. The June figure was previously put at 154.2.
The July index was still 13.1 percent higher than a year earlier, pushed up by the impact of the invasion of Ukraine, adverse weather, and high production and transport costs.
“The decline in food commodity prices from very high levels is welcome, however, many uncertainties remain,” said FAO Chief Economist Maximo Torero….