food prices

Food Prices Drop in December BUT …..

Dan Economy, This Land of Ours

Food prices were a little lower in December, but still higher than the year before. That’s coming up on This Land of Ours.

food prices

The United Nations Food and Agricultural Organization’s Food Price Index dropped during December, but 2022 food prices were 18 percent higher than in 2021. The December index averaged 132.4 points, 2.6 points below November, the ninth-straight monthly decline. The December drop was driven by a steep decline in the international vegetable oil price and declining cereal and meat prices. However, that was counterbalanced by rising prices in sugar and dairy.

For 2022, the index averaged 143.7 points, 18 points or 14.3 percent higher than the 2021 index.

Advertisement

The Vegetable Oil Price Index averaged 144 points in December, down more than 10 points from November and its lowest level since February 2021. The Cereal Price Index averaged 147.3 points during December, down 2.9 points from November but was almost seven points higher than December, 2021. The December dairy index was up 1.5 points, and the sugar index was 2.8 points higher.

Listen to Sabrina Halvorson’s This Land Of Ours program here.

Food Prices Drop in December BUT …..

Sabrina Halvorson
National Correspondent / AgNet Media, Inc.

Sabrina Halvorson is an award-winning journalist, broadcaster, and public speaker who specializes in agriculture. She is a native of California’s agriculture-rich Central Valley.