Global food prices hit 31-month high in July: FAO

Food Price Index averaged at 179.1 points in July 2017, up by 3.9 points or 2.3% from June

Global food prices rose for a third consecutive month in July to hit the highest in 31 months, with hot and dry weather in North America and some other parts contributing to the situation, according to a report released by the Food and Agricultural Organisation (FAO) of the United Nations on Thursday.

The FAO data shows that average global food prices increased by 2.3 per cent in July against June, primarily driven by a sharp increase in the prices of rice, wheat, sugar, milk and cheese. FAO’s Food Price Index averaged 179.1 points in July, up by 3.9 points or 2.3