Is it time to worry about food inflation?
The Food and Agriculture Organization’s Food Price Index rose for a seventh consecutive month in December, led by dairy products and vegetable oils.
The FAO Food Price Index averaged 107.5 points last month versus 105.2 points in November.
The benchmark, which tracks global food prices of cereals, oilseeds, dairy products, meat, and sugar, averaged 97.9 points for 2020, a three-year high, and a 3.1% rise from 2019 levels.
The global food index was still down 25% from its historical high reached in 2011.
Vegetable oil prices saw the most significant jump, up 4.7% month-on-month in December after surging more than 14.0% in November. The index was up 19.1% in 2020 over the prior year.- READ MORE
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