The United Nations Food and Agriculture Organization reports that food prices rose in April for the first time in a year. The organization says the increases stem from higher sugar, meat, and rice prices.
The Food Price Index, which tracks the international prices of commonly-traded food commodities, averaged 127.2 points in April, 0.6 percent higher than in March. That reading was 19 percent below April 2022 but still five percent higher than April 2021.
The FAO Sugar Price Index rose almost 18 percent in March, reaching its highest point since October 2011. The Meat Price Index rose 1.3 percent during the month, driven primarily by higher prices for pig meat.
The Cereal Price Index dropped 1.7 percent in April and averaged almost 20 percent below April 2022. The Vegetable Oil Price Index dropped 1.3 percent in April, its fifth-straight monthly decline. The FAO Dairy Price Index dropped by 1.7 percent.