For the first time in a year, food prices fell by 2.5% in June. The FAO Food Price Index averaged 124.6 points in June.

The FAO food price index in June fell 2.5% from the previous month, the first drop in a year, a United Nations report has revealed. The FAO Food Price Index averaged 124.6 points in June, down 2.5 percent from May, but still 33.9 percent above its level for the year last at the same time. According to the FAO report published last Friday, the decline recorded in June is explained by the fall in the prices of vegetable oils, cereals and, more moderately, dairy products, which more than offset the overall rise in the price of meat and sugar.