World food prices reached their highest level in 18 months in October, the Food and Agriculture Organisation of the United Nations (FAO) reported on Friday.

The FAO Food Price Index, which tracks monthly changes in the price of a basket of international food commodities, reached 127.4 points last month, it said. This is 2% higher than in September and the highest since April 2023, but is still 20.5% below the peak reached in March 2022 after the Russian invasion of Ukraine.

According to the data, vegetable oil prices increased by 7.3% in October, reaching their highest level in two years, due to lower production. Sugar prices rose by 2.6%, dairy by 2.5% and cereals by 0.8%. Only meat prices fell, down 0.3% on the previous month.