World food prices rose for the third consecutive month in October to reach a new record in the last 10 years, driven again by increases in cereals and vegetable oils, the food agency of the United Nations (UN) reported on Thursday (4).
The Food and Agriculture Organization (FAO) index, which tracks international prices for the most traded food commodities globally, averaged 133.2 points last month, compared with 129.2 in September.
The October record was the highest since July 2011. Compared to the same period last year, the index rose 31.3%.
Agricultural commodity prices have increased significantly in recent months, driven by setbacks in the harvest and strong demand.
Brazil Inflation
In Brazil, food prices have been heavily affected by inflation. The IPCA-15 rose 1.12% in October, the highest value for the month since 1995. The food and beverage group rose 1.38% in the period, driven mainly by tomato prices (23.15%) and of the English potato (8.57%).
Meat, which has been the main villain in recent months, registered a drop of 0.31% after 16 consecutive months of increase. Even so, the price of the product remains high and has already led to changes in Brazilian habits.
According to data from the Brazilian Association of Supermarkets (Abras), the demand for front meats, considered second-rate, surpassed the demand for more noble parts of the ox, in August this year, in the country’s butchers and hypermarkets.
Reference: CNN Brasil
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