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Global Food Prices Set to Drop 2.1% in 2024

1/5/2025

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Summary

Story summary

Global food prices are projected to decline by 2.1% in 2024, averaging 122.0 points.
December experienced a 6.7% year-over-year increase, primarily due to higher meat, dairy, and vegetable oil prices.
Sugar and cereal prices dropped by over 13%, aiding the overall decline.
The current index is 20.7% lower than the peak recorded in March 2022.

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Story summary

Global food prices are projected to decline by 2.1% in 2024, averaging 122.0 points.
December experienced a 6.7% year-over-year increase, primarily due to higher meat, dairy, and vegetable oil prices.
Sugar and cereal prices dropped by over 13%, aiding the overall decline.
The current index is 20.7% lower than the peak recorded in March 2022.