FAO Food Price Index: 2023
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Developments
| Date | Food Price Index | Meat Price Index | Dairy Price Index | Cereals Price Index | Oils Price Index | Sugar Price Index |
|---|---|---|---|---|---|---|
| 2022-12 | 133.3 | 112.4 | 148.5 | 147.3 | 144.6 | 117.2 |
| 2023-01 | 131.6 | 111.1 | 144.7 | 147.5 | 140.4 | 116.8 |
| 2023-02 | 131.1 | 113.3 | 138.6 | 146.7 | 135.9 | 125.2 |
| 2023-03 | 128.2 | 114.7 | 135.3 | 138.6 | 131.8 | 127.0 |
| 2023-04 | 128.7 | 116.8 | 129.2 | 136.1 | 130.0 | 149.4 |
| 2023-05 | 124.7 | 118.1 | 121.7 | 129.3 | 118.7 | 157.2 |
| 2023-06 | 123.1 | 119.0 | 119.9 | 126.6 | 115.8 | 152.2 |
| 2023-07 | 124.6 | 118.5 | 119.1 | 125.9 | 129.8 | 146.3 |
| 2023-08 | 122.0 | 115.2 | 114.3 | 125.0 | 125.8 | 148.2 |
| 2023-09 | 121.9 | 114.1 | 112.0 | 126.3 | 120.9 | 162.7 |
| 2023-10 | 120.9 | 112.5 | 114.7 | 124.8 | 120.0 | 159.2 |
| 2023-11 | 120.8 | 112.0 | 116.5 | 121.0 | 124.1 | 161.4 |
| 2023-12 | 119.1 | 111.3 | 118.8 | 122.8 | 122.3 | 134.2 |
| 2024-01 | 118.0 | 109.8 | 118.9 | 120.1 | 122.5 | 135.3 |
February 2023
- The FAO Food Price Index* (FFPI) averaged 129.8 points in February 2023, marginally down (0.6 percent) from January, continuing the downward trend for the eleventh consecutive month.[1]
- With the latest decline, the index has fallen 29.9 points (18.7 percent) from the peak it reached in March 2022.
March 2023
- The FAO Food Price Index* (FFPI) averaged 126.9 points in March 2023, down 2.8 points (2.1 percent) from February, marking the twelfth consecutive monthly decline since reaching its peak one year ago.
- During the past twelve months since March 2022, the index has fallen by as much as 32.8 points (20.5 percent)
- The decline in the index in March was led by drops in the cereal, vegetable oil and dairy price indices, while those of sugar and meat increased.[2]
April 2023
- The FAO Food Price Index* (FFPI) averaged 127.2 points in April 2023, up 0.8 points (0.6 percent) from March and standing 31.2 points (19.7 percent) below its value in the corresponding month last year[3]
- The slight rebound in the FFPI in April was led by a steep increase in the sugar price index, along with an upturn in the meat price index, while the cereals, dairy and vegetable oil price indices continued to drop.
May 2023
- The FAO Food Price Index* (FFPI) averaged 124.3 points in May 2023, down 3.4 points (2.6 percent) from April and as much as 35.4 points (22.1 percent) from the all-time high it reached in March 2022,
- The decline in May was underpinned by significant drops in the price indices for vegetable oils, cereals and dairy, which were partly counterbalanced by increases in the sugar and meat indices.[3]
June 2023
- The FAO Food Price Index* (FFPI) averaged 122.3 points in June 2023, down 1.7 points (1.4 percent) from May, continuing the downward trend and averaging as much as 37.4 points (23.4 percent) below the peak it reached in March 2022.
- The month-on-month decline in the index in June reflected drops in the indices for sugar, vegetable oils, cereals and dairy products, while the meat price index remained virtually unchanged.[1]
July 2023
- The FAO Food Price Index* (FFPI) averaged 123.9 points in July 2023, up 1.5 points (1.3 percent) from June but remaining 16.6 points (11.8 percent) below its value in the corresponding month last year.[1]
- The FFPI’s rebound in July was led by a solid rise in the vegetable oils price index, partially offset by a significant decline in the sugar price index, together with small decreases in the price indices for cereals, dairy and meat.
August 2023
- The FAO Food Price Index* (FFPI) averaged 121.4 points in August 2023, down 2.6 points (2.1 percent) from July, reversing the rebound registered last month and pushing the index as much as 38.3 points (24.0 percent) below its peak reached in March 2022.
- The drop reflected declines in the price indices for dairy products, vegetable oils, meat and cereals, while the sugar price index increased moderately.[1]
Sepmteber 2023
- The FAO Food Price Index* (FFPI) averaged 121.5 points in September 2023, almost unchanged from its value in August, as declines in the price indices of vegetable oils, dairy and meat had offset increases in the sugar and cereal price indices.
- At this level, the index stood 14.6 points (10.7 percent) below its corresponding level a year ago and 38.3 points (24.0 percent) from the all-time high reached in March 2022.[1]
October 2023
- The FAO Food Price Index* (FFPI) averaged 120.6 points in October 2023, down 0.7 points (0.5 percent) from September, continuing the downward trend and standing 14.8 points (10.9 percent) below its corresponding value a year ago.
- The slight drop in October reflects declines in the price indices for sugar, cereals, vegetable oils and meat, while the index for dairy products rebounded.[1]
November 2023
- The FAO Food Price Index* (FFPI) averaged 120.4 points in November 2023, unchanged from its revised October level, as increases in the price indices for vegetable oils, dairy products and sugar counterbalanced decreases in those of cereals and meat.
- The index stood 14.4 points (10.7 percent) below its corresponding level one year ago. [1]
December 2023
- The FAO Food Price Index* (FFPI) stood at 118.5 points in December 2023, down 1.8 points (1.5 percent) from its November level, as decreases in the price indices for sugar, vegetable oils and meat more than offset increases in dairy products and cereals. The index stood 13.3 points (10.1 percent) below its corresponding level one year ago. [1]
- For 2023 as a whole, the index recorded 124.0 points, 19.7 points (13.7 percent) lower than the average value in 2022.