The UN has named the products that have become the most expensive in the world over the past year

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World food prices have increased over the past year. Dairy products and vegetable oil have risen the most in price.

This is reported by RBC-Ukraine with reference to a publication by the UN Food and Agriculture Organization (FAO).

The index, which tracks monthly changes in world prices for a range of food products sold globally, stood at 124.9 points in January 2025, down 1.6% from December. The decline was driven by a significant decline in international vegetable oil and sugar prices. The index is 6.2% higher than a year ago but remains 22% below its peak in March 2022, following Russia's invasion of Ukraine. Dairy prices in Januaryincreased by 2.4% compared to December and by 20.4% compared to January 2024. The increase was due to a monthly increase in international cheese quotations by 7.6%, which outweighed the decrease in prices for oil and milk powder.

Vegetable Oil Price IndexThe FAO fell 5.6% from the previous month, reversing recent gains, although it remained 24.9% higher than a year ago. The decline in January was largely driven by lower global palm and rapeseed oil prices, while soybean and sunflower oil prices remained stable. The FAO Meat Price Index rose 1.4% in January, but was 8.1% higher than a year ago. The FAO Sugar Price Index fell 6.8% from December and 18.5% from a year earlier, mainly due to an improving global supply outlook. Meanwhile, the FAO Cereal Price Index rose 0.3% from December, but remained 6.9% below its January 2024 level. year.