The world’s food prices continue to drop.

Global food prices fell for the sixth consecutive month in September after hitting a record high in March 2022. A sharp drop in oil prices more than offset the rise in grain prices, according to the Food and Agriculture Organization (FAO). The food price index in September was 136.3 points, 1.1% less than in August but 5.5% higher than last year. The oil price index fell 6.6% for the month and reached the lowest level since February 2021. However, the grain price index increased by 1.5% compared to August. World wheat prices jumped by 2.2% due to uncertainty over the extension of the grain agreement on exports from Ukraine after November. On the other hand, the price indexes in September for dairy products decreased by 0.6%, for meat by 0.5%, and for the sugar by 0.7%.