Business & Economy

For the sixth month in a row … the food fire is burning

Food prices reached their highest level in six years as economic indicators confirmed the highest monthly increase in prices since July 2012.

The Food and Agriculture Organization of the United Nations (FAO), for its part, announced that food prices rose globally for the sixth consecutive month.

In a statement, the Rome-based organization said that cereal crops around the world are still heading towards achieving a record annual level in 2020, despite lowering its forecast for the third month in a row.

The FAO Food Price Index, which measures the monthly changes of a basket of grains, oilseeds, dairy products, meat and sugar, recorded an average of 105 points, compared to a slightly modified level in October to 101 points, and the previously announced figure for October was 100.9 points.

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