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Global Food Costs Mark One Year of Drops, at Odds With Inflation

  • UN FAO’s global food index drops to the lowest since July 2021
  • Food inflation a serious concern in many countries: AMIS
A shopper in the meat aisle at a grocery store in Toronto, Ontario, Canada.

A shopper in the meat aisle at a grocery store in Toronto, Ontario, Canada.

Photographer: Cole Burston/Bloomberg

Global food costs fell for a 12th straight month to reach the lowest level since July 2021, though there is still little sign the rout is actually feeding through to grocery shelves.

A United Nations’ index of food-commodity prices eased 2.1% in March, capping the longest run of losses in data going back three decades. Last month’s decline was driven by grains, vegetable oils and dairy, which offset a rise in sugar and meat prices.