World Food Prices Fall for 12th Month Running in March: FAO

A sign displays the price in pound sterling of food goods, including peppers, Oranges, and grapes, at a market in stall east London on March 31, 2023. Susannah Ireland/AFP via Getty Images

ROME—The United Nations food agency’s world price index fell in March for a 12th consecutive month, and is now down 20.5 percent from a record high hit one year ago following Ukraine’s conflict.

The Food and Agriculture Organization’s (FAO) price index, which tracks the most globally traded food commodities, averaged 126.9 points last month against 129.7 for February, the agency said on Friday. It was the lowest reading since July 2021.