Global food prices face persistent inflation pressure

In September 2026, the FAO Food Price Index increased 1.5% month over month to 136 points, while the annual increase reached 5.8%. Rising cereal and vegetable oil prices, in particular, indicated persistent cost pressures in international food markets. Cereal prices rose 5.1% on a monthly basis, while vegetable oil prices increased 0.9%.

Global energy costs, transportation expenses, and adverse weather conditions remain among the key risks to the future direction of food prices. A continued rise in food prices could complicate efforts to combat inflation, particularly in import-dependent economies. The impact of food and energy prices on consumer inflation remains an important consideration for central banks, while markets are now focused on the FAO's upcoming October data.