FAO records rise in global food prices for third consecutive month

The Food and Agriculture Organization (FAO) global food price index rose for the third consecutive month in May.

This was due to rising prices for grains and dairy products, which outweighed falling prices for sugar and vegetable oils globally, according to Reuters.

The organization said Friday that its price index, which tracks changes in the prices of the world’s most traded major foodstuffs, averaged 120.4 points in May, an increase of 0.9% from at the revised April level.