Global Food Commodity Costs Ease for 11th Straight Month
- United Nations’ FAO food index declined 0.6% in February
- Grocery inflation is still squeezing consumers in most regions
A customer picks out zucchini at a fruit and vegetable stall in the Bauveau Market in Paris, France.
Photographer: Cyril Marcilhacy/BloombergThis article is for subscribers only.
Global food costs edged down again, extending their retreat to the lowest in 17 months, although consumers continue to feel the pinch at grocery stores.
A United Nations’ index of food-commodity costs eased 0.6% in February, down for an 11th month in the longest run of losses in data going back three decades. Last month’s fall was driven by cooking oils and dairy, and the overall gauge is down 19% from a record set a year ago when Russia’s invasion of Ukraine disrupted grain exports.