FAO: In March, the Food and Agriculture Organization of the United Nations Food Price Index averaged 128.5 points, an increase of 2.4% compared to the previous month.

In March, the Food and Agriculture Organization (FAO) Food Price Index averaged 128.5 points, an increase of 3.0 points from the revised level in February, marking the second consecutive month of increase. Prices for all commodity categories rose to varying degrees, reflecting both basic market supply and demand conditions, as well as the chain reaction brought about by the escalation of conflicts in the Middle East leading to higher energy prices. Compared to historical levels, this month's food price index was 1.2 points higher than the same period last year, but still 31.7 points lower than the historical high set in March 2022.