Global food prices ticked up last month after Russia pulled out of a deal to allow the safe passage of ships carrying grain from Ukrainian ports.
The United Nations’ Food and Agricultural Organization (FAO) said Friday that its global Food Price Index rose 1.3% in July compared with the month before — notching only the second increase in a year of steady declines since the grain deal was struck.
The monthly index, which tracks a range of food commodities, is still down almost 12% from July 2022, but Russia’s decision to withdraw from the UN-backed deal pushed up the prices of grains and sunflower oil.