The latest Food Price index declined 1.2 points in December but remained 23% higher than a year ago. The index from the Food and Agriculture Organization of the United Nations averaged 133.7 points in December. Except for dairy, the values of all sub-indices registered monthly declines. For 2021 as a whole, the index averaged 125.7 points, as much as 28.1% above year-ago levels, with all sub-indices averaging sharply higher than in the previous year.

The Cereal Price Index averaged 140.5 points in December, down 0.9 points from November. The Vegetable Oil Price Index averaged 178.5 points in December, shedding 6.1 points from recent record highs. The Dairy Price Index averaged 128.2 points in December, up 2.3 points and 17.4% above its December 2020 value. The Meat Price Index averaged 111.3 points in December, 17.4% above its year-earlier value. And the Sugar Price Index averaged 116.4 points, down 33.1% from November and a five-month low.

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