Global Food Costs at 2
Jul 12, 2023
A shopper passes oranges on sale inside a supermarket in Accra, Ghana.
Agnieszka de Sousa and
Aine Quinn
Subscriber Benefit
Subscribe
Global food costs fell to the lowest level in two years in May, reviving hopes that sticky inflation on supermarket shelves will start to ease.
A United Nations’ index of food-commodity prices fell 2.6% in May, as declines in grains, vegetable oil and dairy offset higher sugar and meat costs. The gauge of prices for internationally-traded agricultural commodities has fallen 22% from the peak it reached in March last year following Russia's invasion of Ukraine.