Inflation update: Word food price index eased last month [Video]

ROME –

The United Nations’ world food price index dipped in December against November levels, led lower by a drop in international sugar quotations, but still showed a robust gain year-on-year, data showed on Friday.

The index, compiled by the UN Food and Agriculture Organization (FAO) to track the most globally traded food commodities, fell to 127.0 points last month from a slightly revised 127.6 in November.

The November figure was previously put at 127.5.

• The information you need to know, sent directly to you: Download the CTV News App

The December value was up 6.7 per cent from 12 months previously, yet remained 20.7 per cent below the all-time high reached in March 2022, FAO said.

For 2024 as a whole, the index averaged 122.0, 2.1 per cent lower than the 2023 value, offsetting significant decreases in quotations for cereals and sugar with smaller increases in prices for vegetable oils, dairy and meats.

Sugar prices led December’s monthly decline, dropping 5.1 per cent …