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The FAO Food Price Index (FFPI) averaged 120.4 points in May 2024, up 1.1 points from April 2024 and 4.3 points lower than its level in the corresponding month last year. The highest value for the index in the past 23 years was reached in March 2022. However, the rate of food price increases has been decreasing since.

Food prices worldwide

The annual FAO Food Price Index (FFPI) by category shows that the price of vegetable oils grew by a particularly large margin. One of the factors that influenced the spike in oil prices worldwide during 2020 and 2021 were the supply-chain disruptions during the COVID-19 pandemic. Moreover, after the war in Ukraine, shipping costs and grain prices also had a noticeable impact on global food prices. Global food prices are calculated to have increased by 3.68 percent, due to changes in shipping costs and grain prices. The European Union (EU) has experienced a particularly high increase in the annual consumer prices for food and non-alcoholic beverages, as compared to other selected countries worldwide.

Inflation in Europe

The inflation rate for food in the EU grew from 0.2 percent in May 2021 to 19.2 percent in March 2023, as compared to the same month in the previous year. In the following months, the food inflation started decreasing again, reaching 7.6 percent in October 2023. The overall inflation rate in the Euro area reached its peak in October 2022 at 10.6 percent. Prices have since fallen to 4.3 percent in September 2023. As measured by the Harmonized Index of Consumer Prices (HICP), inflation rates in Europe were highest in Turkey, Czechia, and Serbia as of December 2023.

Monthly food price index worldwide from 2000 to 2024

Characteristic	Food price index (2014-2016=100)
May-2024	120.4
Apr-2024	119.3
Mar-2024	119
Feb-2024	117.4
Jan-2024	117.7
Dec-2023	119.2
Nov-2023	120.8
Oct-2023	120.9
Sep-2023	121.9
Aug-2023	122
July-2023	124.6
June-2023	123.1
May-2023	124.7
Apr-2023	128.7
Mar-2023	128.2
Feb-2023	131.1
Jan-2023	131.6
Dec-2022	133.3
Nov-2022	136.1
Oct-2022	136.8
Sep-2022	137.5
Aug-2022	138.9
Jul-2022	141.8
Jun-2022	155.8
May-2022	158.8
Apr-2022	159
Mar-2022	160.3
Feb-2022	141.7
Jan-2022	135.8
Dec-2021	133.9
Nov-2021	135.5
Oct-2021	133.4
Sep-2021	129.3
Aug-2021	128.1
Jul-2021	124.6
Jun-2021	125.3
May-2021	128.1
Apr-2021	122.1
Mar-2021	119.2
Feb-2021	116.5
Jan-2021	113.5
Dec-2020	108.6
Nov-2020	105.6
Oct-2020	101.4
Sep-2020	98
Aug-2020	95.9
Jul-2020	94
Jun-2020	93.3
May-2020	91.1
Apr-2020	92.5
Mar-2020	95.2
Feb-2020	99.4
Jan-2020	102.5
Dec-2019	101
Nov-2019	98.6
Oct-2019	95.2
Sep-2019	93.4
Aug-2019	94.1
Jul-2019	95.1
Jun-2019	95.4
May-2019	94.3
Apr-2019	93.6
Mar-2019	93.2
Feb-2019	94
Jan-2019	93.3
Dec-2018	92.2
Nov-2018	92.2
Oct-2018	93.3
Sep-2018	94.2
Aug-2018	96
Jul-2018	95.1
Jun-2018	97
May-2018	98.7
Apr-2018	98.6
Mar-2018	99
Feb-2018	97.9
Jan-2018	96.8
Dec-2017	96.4
Nov-2017	98.9
Oct-2017	98.9
Sep-2017	99.9
Aug-2017	99.3
Jul-2017	100.2
Jun-2017	98
May-2017	97.4
Apr-2017	95.1
Mar-2017	96.2
Feb-2017	98.1
Jan-2017	97.7
Dec-2016	95.1
Nov-2016	95.8
Oct-2016	95.9
Sep-2016	96.1
Aug-2016	95.3
Jul-2016	93
Jun-2016	93.8
May-2016	90.6
Apr-2016	89.2
Mar-2016	87.4
Feb-2016	86
Jan-2016	84.9
Dec-2015	87.1
Nov-2015	87.7
Oct-2015	90.4
Sep-2015	89
Aug-2015	89.6
Jul-2015	93.8
Jun-2015	94.5
May-2015	95
Apr-2015	94.7
Mar-2015	95.6
Feb-2015	98.5
Jan-2015	100.7
Dec-2014	105.1
Nov-2014	108.2
Oct-2014	109.4
Sep-2014	109.3
Aug-2014	113
Jul-2014	116.4
Jun-2014	119.3
May-2014	121.3
Apr-2014	121.5
Mar-2014	122.1
Feb-2014	118.5
Jan-2014	116.2
Dec-2013	118.2
Nov-2013	118.7
Oct-2013	118.8
Sep-2013	116.4
Aug-2013	116.2
Jul-2013	117.9
Jun-2013	120.9
May-2013	122.1
Apr-2013	122.9
Mar-2013	122.9
Feb-2013	123.3
Jan-2013	123.4
Dec-2012	122.9
Nov-2012	123.6
Oct-2012	124
Sep-2012	125.2
Aug-2012	123.4
Jul-2012	122.1
Jun-2012	115.9
May-2012	119
Apr-2012	124.4
Mar-2012	125.8
Feb-2012	125.4
Jan-2012	122.4
Dec-2011	122.1
Nov-2011	126.1
Oct-2011	125.7
Sep-2011	130.4
Aug-2011	133
Jul-2011	133.2
Jun-2011	135
May-2011	135.2
Apr-2011	136.4
Mar-2011	134.3
Feb-2011	137.6
Jan-2011	133.7
Dec-2010	129.3
Nov-2010	124.1
Oct-2010	120.1
Sep-2010	114.1
Aug-2010	107.7
Jul-2010	100
Jun-2010	95.8
May-2010	96.3
Apr-2010	96.8
Mar-2010	96.3
Feb-2010	99
Jan-2010	101.5
Dec-2009	100.7
Nov-2009	98.8
Oct-2009	94.8
Sep-2009	93
Aug-2009	93.5
Jul-2009	90.7
Jun-2009	93.3
May-2009	93.3
Apr-2009	87.2
Mar-2009	84
Feb-2009	84.2
Jan-2009	86.4
Dec-2008	86
Nov-2008	89.5
Oct-2008	97.6
Sep-2008	112.8
Aug-2008	121.1
Jul-2008	130.1
Jun-2008	132.5
May-2008	130
Apr-2008	130.4
Mar-2008	132.1
Feb-2008	128
Jan-2008	120
Dec-2007	114.4
Nov-2007	110.5
Oct-2007	107.6
Sep-2007	105
Aug-2007	98.9
Jul-2007	95.3
Jun-2007	91.1
May-2007	86.2
Apr-2007	83.6
Mar-2007	80.8
Feb-2007	79.6
Jan-2007	78.1
Dec-2006	78.6
Nov-2006	77.5
Oct-2006	74.9
Sep-2006	73
Aug-2006	72.9
Jul-2006	72.9
Jun-2006	71.1
May-2006	71
Apr-2006	69.7
Mar-2006	69.4
Feb-2006	70.4
Jan-2006	69.4
Dec-2005	69.5
Nov-2005	68.8
Oct-2005	69.4
Sep-2005	68.4
Aug-2005	67.5
Jul-2005	67.4
Jun-2005	67.2
May-2005	66.3
Apr-2005	65.6
Mar-2005	67.1
Feb-2005	65.9
Jan-2005	65.4
Dec-2004	65.6
Nov-2004	65.4
Oct-2004	64.7
Sep-2004	65.2
Aug-2004	64.5
Jul-2004	65.6
Jun-2004	66.1
May-2004	66.4
Apr-2004	67.3
Mar-2004	66.7
Feb-2004	65
Jan-2004	64.3
Dec-2003	62.4
Nov-2003	61.8
Oct-2003	60.3
Sep-2003	58.7
Aug-2003	57.6
Jul-2003	56.7
Jun-2003	56
May-2003	56.3
Apr-2003	55.6
Mar-2003	55.5
Feb-2003	56.5
Jan-2003	56
Dec-2002	55.6
Nov-2002	56.3
Oct-2002	55.2
Sep-2002	54.9
Aug-2002	53.4
Jul-2002	52
Jun-2002	51.3
May-2002	50.5
Apr-2002	51
Mar-2002	52
Feb-2002	51.7
Jan-2002	53.5
Dec-2001	54.3
Nov-2001	54.7
Oct-2001	54.2
Sep-2001	55.4
Aug-2001	56.6
Jul-2001	56.5
Jun-2001	54.8
May-2001	55.4
Apr-2001	54.6
Mar-2001	55.1
Feb-2001	54.2
Jan-2001	53.8
Dec-2000	54.4
Nov-2000	53.8
Oct-2000	53.4
Sep-2000	52.6
Aug-2000	53.2
Jul-2000	54
Jun-2000	53.8
May-2000	53.6
Apr-2000	53.4
Mar-2000	52.8
Feb-2000	52.3
Jan-2000	52.6

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Release date

June 2024

More information

Region

Worldwide

Survey time period

January 2000 to May 2024

Special properties

Nominal data (including: meat, dairy, cereals, vegetable oils, and sugar)

Supplementary notes

The source notes: "Food Price Index: Consists of the average of 5 commodity group price indices (meat, dairy, cereals, vegetable oil, and sugar price indices), weighted with the average export shares of each of the groups for 2014-2016: in total 95 price quotations considered by FAO commodity specialists as representing the international prices of the food commodities are included in the overall index. Each sub-index is a weighted average of the price relatives of the commodities included in the group, with the base period price consisting of the averages for the years 2014-2016. "

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