The Food and Agriculture Organization (FAO) Food Price Index rose to a 3-year high of 131.1 points in July 2026, the highest since January 2023.
The rise was mainly driven by a 3.4% increase in cereal prices, including a 5.8% rise in wheat prices due to heat damage and concerns over Black Sea exports.
Vegetable oil prices rose by 2%, while sugar prices increased by 5.6% due to weather concerns and stronger ethanol demand.
Meat prices fell by 2.8% from their June record high, while dairy prices declined by 0.7%.
The FAO linked the rise in food prices to extreme weather, heatwaves, drought and conflicts affecting food production and trade.