Food prices fell to the lowest level in 26 months in the world, rising for 34 months in Turkey

While food prices in Turkey are increasing day by day and food inflation is increasing, food prices in the world have fallen to the lowest level in 26 months.

The World Food Price Index, compiled by the Food and Agriculture Organization of the United Nations (FAO), which tracks monthly changes in the prices of grains, oilseeds, dairy products, meat and sugar fell to 122.3 in June from a revised 124 in May.

The May Food Price Index was previously announced at 124.3.

BELOW THE HISTORICAL STORED LEVEL DUE TO THE EFFECT OF THE WAR

Thus, the world food price index decreased in June due to the drop in the prices of sugar, vegetable oils, cereals and dairy products. It fell to the lowest level since April 2021.

The World Food Price Index for June is 23.4 percent below the all-time high recorded with the Russian invasion of Ukraine in March 2022.

EVERY DAY IS TIME IN Türkiye

In Turkey, annual food inflation was estimated at 53.92 percent in June. Thus, food prices in the country have increased continuously in the 34 months since August 2020.

According to the Turkish Statistical Institute (TUIK), monthly inflation was 3.92 percent, annual inflation was 38.21 percent, and 6-month inflation was 19.77 percent in June; According to ENAG, consumer prices increased 8.54 percent monthly, 108.58 percent annually and 50.53 percent in 6 months in June.

June inflation was recorded as the highest monthly inflation in the last five months.

Thus, the series of increases in the CPI continued in month 54.

In June, the champion of the rise was “tea and other infused beverages” with an average price increase of 14.93 percent.