Food prices have risen to their highest level since 2022

The food price index compiled by the Food and Agriculture Organisation (FAO) of the United Nations (UN), which reflects five groups – cereals, meat, dairy products, vegetable oils and sugar – — rose by 1.9 per cent to 133.3 points in August, reaching its highest level since November 2022, according to data released by the organisation on Friday.

This index rose for the second month running in August, with price increases across all commodity categories contributing to the rise.

Amid growing concerns over the outlook for global sugar supply during the 2026–2027, the sugar price index jumped by 11.9 per cent, reaching its highest level since June 2025.

The dairy products price index rose by 2.3 per cent, driven primarily by increases in the prices of milk powder and cheese.

The cereal price index rose by 2.2 per cent, reaching its highest level since May 2024; according to the FAO, this was driven by strong demand, weather-related concerns over crop prospects in key producing regions and ongoing uncertainty regarding export flows from the Black Sea region.

The meat price index rose by 1 per cent, primarily due to higher prices for poultry, pork and lamb.

Finally, the vegetable oil price index rose by 0.6 per cent, reaching its highest level since June 2022, driven primarily by higher global prices for palm and soya oils.