Global food prices hit an 18-month high in October, the UN said via Reuters

PARIS (Reuters) – The United Nations’ world food price index rose in October to its highest level since April 2023 as vegetable oil led to a sharp rise in most food staples, data showed on Friday.

The price index, compiled by the Food and Agriculture Organization of the UN (FAO) to track the world’s most traded food, rose to 127.4 points last month from a revised 124.9 points in September.

Prices for all categories rose except for meat, with vegetable oils jumping more than 7% from last month, supported by concerns over palm oil production, the FAO said.