This was due to lower prices for sugar, meat and cereals, which have offset higher values for dairy products and vegetable oil.

The price index, compiled by FAO to track the world’s most traded food commodities, dropped 120.7 points in August from 121 revised points in July.

The FAO index hit a three-year low in February 2024, as food prices retreated from a record peak reached in March 2022.

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