Global agricultural food commodity prices rose in May, with dairy prices jumping significantly. The FAO Food Price Index averaged 176.2 points during the month, up 1.2% from April.
Food prices may ease in 2012 due to a slowing global economy, though no drastic drop from high levels is expected, the new director-general of the UN's Food and Agriculture Organisation said on Tuesday.
Food price volatility featuring high prices is likely to continue and possibly increase, making poor farmers, consumers and countries more vulnerable to poverty and food insecurity, the United Nations' three Rome-based agencies said in the global hunger report published Monday.
Brazil’s inflation accelerated for the 12th straight month in August to its fastest annual rate since 2005. Consumer prices, as measured by the IPCA index, rose 0.37% in August from the previous month, the national statistics agency reported on Tuesday. Prices rose 7.23% from a year ago, the highest since June 2005.
Annual food inflation in Latin America and the Caribbean reached 8.7% in July almost one full percentage point above the previous month according to the Food and Agriculture Organization, FAO.
Global food prices are at high levels and when combined with continued volatility, put the poorest people in the developing world at continued risk, according to the World Bank Group’s Food Prices Watch released Monday.
Venezuelan July inflation, as measured by the national index INPC, came in on the high side of expectations at 2.7%, up from June.
Brazil Central Bank head of Monetary Policy Aldo Mendes anticipated Monday that inflation in the coming two/three months will be almost flat, close to zero and supported his forecast on the food prices inflexion tendency.
Rising international food prices could trigger an acceleration of inflation in several countries in Latin America and the Caribbean this year, highlighting the need for policies to protect the urban poor, according to a new study by the Inter-American Development Bank, (IDB).
Rising international food prices could trigger an acceleration of inflation in several countries in Latin America and the Caribbean this year, highlighting the need for policies to protect the urban poor, according to a new study from the Inter American Development Ban (IDB).