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Global food prices reach 3-year high
Global food prices in July 2026 rose to their highest level in over three years, intensifying pressure on households worldwide and threatening deterioration in food security. This increase is primarily driven by disruptions in grain export routes, climate fluctuations, and geopolitical conflicts. The Global Food Price Index reached 131.1 points, marking a 0.6% monthly increase compared to June and the highest level since January 2023. The most significant gains were in grain prices, with wheat rising by 5.8% and corn by 3.6%. Vegetable oil prices also increased by 2%, while sugar prices went up by 5.6%. Overall, meat and dairy prices declined, although lamb prices hit a new record high. The continuing rise in food commodity prices raises concerns about cost transfers to consumers, especially in importing countries, amidst ongoing challenges related to climate change and conflicts.
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