The Ministry of Trade and Industry continues to monitor the movement of global and local food prices and has noted that globally, food prices continue to decrease.
According to the Food and Agricultural Organisation, the Food Price Index averaged 122.3 points in June 2023, which was a decline by 1.7 points from May 2023, continuing the downward trend and averaging 37.4 points below the peak it reached in March 2022.
The month-on-month decline in the index in June 2023 reflected a fall in all indices for sugar, vegetable oils, cereals and dairy products, with the exception of the meat price index, which remained unchanged.