Food Prices Fell in May on Cheaper Cereal, Sugar and Vegetable Oil, UN Says

The UN food price index—which tracks global prices for a basket of staple foods—is down 8.2% on year

Food prices fell in May as declines in corn and palm oil outweighed historically high prices for butter and bovine meat, data from the Food and Agriculture Organization of the United Nations showed on Friday.

The FAO's food price index–which tracks global prices for a basket of staple foods–averaged 127.7 points, down 1.0 point from April. It is down 8.2%...

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