FAO: Global food price index rose for the third month in May

The United Nations Food and Agriculture Organization (FAO)’s global food price index rose for the third straight month in May after higher prices for cereals and dairy products outweighed lower prices for sugar and vegetable oils.

The organization said on Friday that its price index, which monitors changes in the prices of the most widely traded basic food commodities globally, recorded an average of 120.4 points in May, an increase of 0.9% from the revised April level.