Rome:The Food and Agriculture Organisation of the United Nations (FAO) announced a decline in global food prices for the month of October. Despite the decrease, prices remain approximately 5.9 percent higher than in October of the previous year.
According to Wam, the FAO reported that its Food Price Index, which monitors monthly changes in international prices of a basket of globally traded food commodities, averaged 133.9 points in October. This marks a decrease from a revised 135.6 points in September.
The index, however, is still 16.4 percent below its peak value recorded in March 2022.