Global food prices hit 4-year high in August; sugar jumps 11.9%

Global food prices rose to a four-year high in August, driven by a 2.6% increase in wheat and an 11.9% surge in sugar. The rise signals persistent inflationary pressure in food commodities, which could feed into consumer prices and central bank policy. The sustainability of the rally is uncertain, as supply-side factors and weather conditions remain volatile.