Global food prices appear to have consolidated their downward trend, according to FAO's food price index.according to the FAO food price index.

After soaring in the second half of the year in the wake of the Russian invasion of Ukraine, they have been showing a clear downward trend since June. The steepest drop is seen in the price index for edible oils, which have fallen below the October 2021 index after rising by almost 40% between October 2021 and March 2022. Grain prices, however, remain above those of a year ago.

Source: FAO