Global Food Prices Rise And Fall 2024. Global food prices posted the biggest annual drop since 2015, amid signs that lower wholesale food prices are starting to feed through to supermarket shelves. The fao food price index (ffpi) measures the change in global prices of a basket of food products by comparing current prices against a weighted average of one hundred.
» the fao food price index (ffpi) averaged 127.4 points in october 2024, up 2 percent from its revised september level and the highest since april 2023. Over recent years food prices have been inflated by the pandemic and war in ukraine, while extreme summer temperatures have exacerbated the problem.