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World Food Prices Are Climbing Closer Toward a Record High

  • UN’s index of global food costs advanced 1.1% last month
  • Unfavorable weather, energy crisis threaten further increase
The United Nations’ index of prices rose 1.1% in January.

The United Nations’ index of prices rose 1.1% in January.

Photographer: Hollie Adams/Bloomberg
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Global food prices jumped toward a record last month, further adding to the surging cost of living for consumers.

The United Nations’ index of prices rose 1.1% in January, pushed up by more expensive vegetable oils and dairy. The gauge is edging closer to 2011’s all-time high, and unfavorable weather for crops and the fallout from an energy crisis threaten to keep prices high going forward.