The UN index fell for a fourth month, offering some relief to consumers facing a deepening cost-of-living crisis that spans everything from energy to transport. Still, prices remain elevated, putting pressure on low-income households and worsening global hunger.
Global food prices fell the most since 2008 after concerns over supplies of grains and vegetable oils eased as Ukraine moved toward restarting exports.
A United Nations index of world food costs plunged almost 9% in July. The index fell to the lowest since January, before Russia’s blockade of ports in Ukraine – a major food exporter – pushed up food costs to a record.
