Food prices fell for 3 straight months in June, FAO’s food price index showed — but “factors that drove global prices high in the first place are still at play.”
The FAO index in June hovered at 154.2 points — the base period being average prices between 2014 and 2016 — just slightly below the 159.7 points reading in March, following Russia's invasion of Ukraine.According to Nomura, countries like Singapore, South Korea, the Philippines, and India will likely see the highest increases in food prices in the second half of this year.
Hong Kong. Food also commands a high share — nearly 35% — of the country's consumer price index basket.And while India is self-sufficient on wheat and rice, the country's ongoing heatwave, a monsoon delay, and rising prices of other food items like meat and eggs will likely push prices up.
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