FAO reported its sugar price index at 152.8 (deflated), up from January, enough to bring it to a ten-month high but still down 4.3 percent from February 2018. The sugar index has now reached a 22-month streak of YOY declines, just one month shy of the oil index’s 23-month slide.
Of the remaining food price indexes, only two show YOY gains: The dairy index is up 0.7 percent, the second straight month of YOY gains, and the cereals index, which has seen YOY gains for 20 months straight.
Encompassing these individual indexes, the food price index was 139.0 (deflated), up slightly from January’s 136.7 but down 2.3 percent YOY, making February the ninth straight month of YOY declines.
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