Global Food Costs at 2

A shopper passes oranges on sale inside a supermarket in Accra, Ghana.

Agnieszka de Sousa and

Aine Quinn

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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.