Global food prices fell 1.2% in October but remained above year-earlier levels
The UN Food and Agriculture Organization’s food price index averaged 133.9 points in October, down 1.2% from its revised September level but 5.9% higher than a year earlier. Lower grain, dairy and meat prices offset a sharp rise in sugar. Cereal prices fell 4.5% to their lowest level in a year, while sugar prices rose 6.6%, their fourth consecutive monthly increase.