World Food Prices Hit 3-Year High in July, Driven by Cereal and Wheat Increases

The United Nations' Food and Agriculture Organization (FAO) reported that its Food Price Index averaged 131.1 points in July 2026, an increase from 130.3 points in June, marking the highest level in over three years. This rise was primarily attributed to a 3.4% month-on-month increase in the Cereal Price Index, with wheat prices jumping 5.8% due to adverse weather conditions and escalating conflict in the Gulf and Black Sea regions.