The world food price index in July fell to 140.9 points, which is 8.6% lower than in June 2022. The decline was the sharpest since October 2008. This was reported by the press service of the Food and Agriculture Organization of the United Nations (FAO).

World food prices have fallen for the fourth month in a row after a record high in March. However, the July figure of 8.6% was 13.1% higher than recorded in July 2021.

The decline in food prices from very high levels is welcome, especially in terms of access to food, said FAO Chief Economist Maximo Torero Cullen.

However, he said that high fertilizer prices, a gloomy outlook for the global economy and currency fluctuations pose significant challenges to global food security.