The Food and Agriculture Organization (FAO) reported that global food prices in October reached their highest point in 18 months.
The organization noted a significant rise in vegetable oil costs.
The FAO Food Price Index monitors monthly fluctuations in global prices.
The FAO stated that food commodity prices rose to 127.4 points last month, marking a 2% increase from September.
This level was the highest since April 2023 but remained 20.5% below the peak reached in March 2022 after Russia’s invasion of Ukraine, a major agricultural producer.
Vegetable oil prices climbed by 7.3% in October, reaching a two-year high due to reduced production.
Sugar prices increased by 2.6%, dairy rose by 2.5%, and cereals were up by 0.8%.
Meat was the only commodity to decrease, dropping 0.3% from the previous month.
