Commodities
FAO Food Price Index Hits Highest Level Since May 2024
The FAO Food Price Index (FPI) rose to 133.3 points in August, up 2.5 points from its revised July level and 3.3 points higher than last year.
International cereal prices increased across all major grains due to robust demand, weather-related concerns over crop prospects, and uncertainty surrounding Black Sea export flows.
The Cereal Price Index rose to its highest level since May 2024, with world wheat prices increasing by 2.6% month on month and standing 15% above the year-earlier level.