FAO Food Price Index hits highest since Nov 2022, up 1.9% in August

The FAO Food Price Index rose 1.9% in August, reaching its highest level since November 2022, driven by gains in cereals, sugar, and dairy. The index remains 17% below the March 2022 record, but FAO's chief economist warns that climate shocks, geopolitical tensions, and supply disruptions could push prices higher. This signals renewed upward pressure on global food inflation, with implications for central banks and import-dependent economies.