Global food prices fall even as grocery inflation rages

The UN’s index, which tracks five major staples, declined last month due to lower vegetable oil, dairy and sugar prices, its Food and Agriculture Organisation said

In Britain and Ireland, the annual grocery price has been running at 16.7% and 15.4%, respectively. File picture

Global food costs capped their longest run of monthly declines in at least three decades, bucking soaring supermarket prices that are squeezing households.

A United Nations’ index of food-commodity costs fell 0.8% in January, a 10th straight drop and the longest run in data going back to 1990.