FAO: Global Food Price Index Rises for the Third Month in May

The Food and Agriculture Organization of the United Nations (FAO) reported that the global food price index rose for the third consecutive month in May, as increases in the prices of grains and dairy products outweighed declines in sugar and vegetable oils. The organization stated today (Friday) that its price index, which tracks changes in the prices of the most traded basic food commodities globally, averaged 120.4 points in May, an increase of 0.9 percent from the revised level of April.