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On August 5, the Food and Agriculture Organization of the United Nations (FAO) released data showing that global food prices declined in July, but were still much higher than those in the same period last yea.
The FAO Food Price Index averaged 149 points in July, down 6% from June, with costs for vegetable oils, grains, sugar, meat and dairy all dow.
Food prices hit record highs after the Ukrainian crisis and have since slowly retreate.
Food prices also slipped slightly after a UN-led deal in late July to protect Ukraine's Black Sea grain export.
The Black Sea agreement contributed to a 15% drop in wheat prices and an 15% drop in cereal prices, the FAO sai.
But grain prices are still about 17 percent higher than a year earlier, and wheat prices are about 25 percent highe.
Food FAO Price Food PriceThe FAO Food Price Index averaged 149 points in July, down 6% from June, with costs for vegetable oils, grains, sugar, meat and dairy all dow.
Food prices hit record highs after the Ukrainian crisis and have since slowly retreate.
Food prices also slipped slightly after a UN-led deal in late July to protect Ukraine's Black Sea grain export.
The Black Sea agreement contributed to a 15% drop in wheat prices and an 15% drop in cereal prices, the FAO sai.
But grain prices are still about 17 percent higher than a year earlier, and wheat prices are about 25 percent highe.
