FAO’s Food Price Index for March 2020 fell 4 percent from February (adjusted for inflation). The Price Index for March was still up 2.7 percent YOY, though that is the lowest monthly YOY increase in seven months.
For 2020 to date, the Food Price index is up 2.3 percent after two years of overall declines.
The monthly gains that had been more widespread at the end of 2019 and in January 2020 have changed. In March, all the subindexes showed monthly declines: Meat, down 0.6 percent; Dairy, down 3.0 percent; Cereals, down 1.9 percent; Oils, down 12.0 percent; and Sugar, down 19.1 percent.
For the year to date, the indexes are showing growth—marginal growth only, though, for Meats and for Cereals. The category showing the greatest growth for 2020 to date is Oils, up 14.8 percent YOY, but that is the same index that lost 12.0 percent from February to March.
The Sugar Price Index was up 5.5 percent YOY for 2020 to date after declines in the previous three years.
FAO Food Price Indexes, annual deflated
Source: FAO, McKeany-Flavell
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