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Food Price Index Declined in August, While Rice Prices Spiked

Sep 9th, 2023 • by S. Gustafson

The FAO Food Price Index fell by around 2 percent in August, driven by declines in cereal, vegetable oil, dairy, and meat indices. This decline placed the Index 24 percent below the peak seen in March 2022. The major exception was rice prices, which saw a significant increase in August.