UN agency says food prices fell again in July

The United Nations food agency's world price index declined again in July, edging further away from record highs hit in March.

The Food and Agriculture Organization's (FAO) food price index, which tracks the most globally traded food commodities, averaged 140.9 points last month, compared to a revised 154.3 for June.

The July index was still 13.1% higher than a year earlier, pushed up by the impact of the invasion of Ukraine, adverse weather, and high production and transport costs.