World food prices jumped 28% in 2021 to their highest level in a decade and hopes for a return to more stable market conditions this year are slim, the U.N.'s food agency said on Thursday.
Register now for FREE unlimited access to Reuters.comHigher food prices have contributed to a broader surge in inflation as economies recover from the coronavirus crisis and the FAO hasIn its latest update, the food agency was cautious about whether price pressures might abate this year.
A surge in the price of fertilisers, linked in turn to spiralling energy prices, has ramped up the cost of so-called inputs used by farmers to produce crops,In December, prices for all categories in the food price index bar dairy products fell, with vegetable oils and sugar falling significantly, the agency said in its monthly update.
However, all categories in the index showed sharp increases during 2021 as a whole and the FAO's vegetable oil price index hit a record high.
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