World food prices fall for third month running, as inflation pressures ease – business live

UN reports that prices of dairy products, meat, sugar and vegetable oils fell in November

Global food prices have fallen for the third month running.

The UN’s Food Price Index, which tracks a basket of food commodities, dropped by 1.2% in November, thanks to a drop in the cost of dairy products, meat, sugar and vegetable oils.

That could help to push down inflation, if these reductions are passed onto consumers.

However, cereal prices rose by 1.8% last month, due to “potential Chinese interest in supplies from the United States of America, concerns over continuing hostilities in the Black Sea region, and expectations of reduced plantings in the Russian Federation”, the UN’s Food and Agriculture Organisation reports.