FAO reported its Food Price Index appreciated by just 0.2 percent YOY in June, the first monthly YOY increase in 21 months. (Note: These figures are adjusted for inflation.)
The increase comes courtesy of gains in three of the five subindexes: The Meat, Cereals, and Sugar Price Indexes are up 5.7 percent, 3.8 percent, and 3.3 percent respectively. The Meat and Sugar Indexes have seen YOY growth in the last three straight months. Prior to that, the Meat Index had seen 13 straight months of YOY declines, and sugar 23 straight down months.
Two subindexes were down YOY. The Dairy Price Index was down, breaking a five-month run of YOY gains. And the Oils Price Index has seen unbroken YOY losses during the last 27 months.