World food prices are steadily increasing
The United Nations food body’s index measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar. The basket averaged 175.5 points in February, up 0.5% on January levels.
More significantly, this latest increase has pushed food prices on international to 17.2% above their levels in the same month last year. The FAO index for January was particularly high, with food prices driven up by a sever drought in East Africa.
