World Food Prices Decline for 10th Month Running in January, Says FAO

World Food Prices Decline for 10th Month Running in January, Says FAO
Combines harvest wheat in a field in the Rostov Region, Russia, on July 7, 2022. Sergey Pivovarov/Reuters
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ROME—World food prices fell in January for a 10th consecutive month, and are now down some 18 percent from a record high hit last March following Russia’s invasion of Ukraine, the United Nations food agency said on Friday.

The Food and Agriculture Organization’s (FAO) price index, which tracks the most globally traded food commodities, averaged 131.2 points last month against 132.2 for December. It was the lowest reading since September 2021.