Food Prices Fell in January, UN Says

By Giulia Petroni

Food prices fell further in January, as lower prices for cereals and meat more than offset increases in sugar, the Food and Agriculture Organization of the United Nations said on Friday.

The FAO food price index, which tracks global prices for a basket of staple foods, averaged 118 points in January, down 1% from December's level and around 10% lower from a year earlier.