Food prices ease but remain near record level

The UN's Meat Price Index reached an all time high last month, while cereal prices also increased

The Food and Agriculture Organisation (FAO) monthly Food Price Index reached an all time high of 13% in March.

Global food prices dipped slightly in May but the price of meat is now at an all-time high, according to the most recent UN price gauge.

The Food and Agriculture Organisation (FAO) monthly Food Price Index for last month suggests that overall food costs were down 0.6% from April. However, the index was still 22.8% higher than its May 2021 value, as the war in Ukraine continued to disrupt trade.