Venezuela reported the slowest monthly inflation of the year in August after the government moved to tackle sporadic food shortages by importing more goods ahead of the September 26 congressional elections.
Surging wheat prices drove international food prices up 5% last month in the biggest month-on-month increase since November 2009, FAO announced. The FAO Food Price Index (FPI) averaged 176 points in August, up nearly nine points from July, FAO said in its latest update on the global cereals supply and demand situation.