Global price of Food index
This dataset tracks global price of food index over time.
Latest Value
124.84
Year-over-Year Change
-4.16%
Date Range
1/1/1992 - 6/1/2025
Summary
The Global Price of Food Index tracks international food commodity prices. It is a critical indicator for monitoring global food security and assessing the impact of price changes on consumers and producers.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Global Price of Food Index is a composite measure of international market prices for a basket of food commodities, including cereals, vegetable oils, meat, seafood, sugar, and dairy products. The index is widely used by economists, policymakers, and international organizations to analyze trends in global food affordability and supply.
Methodology
The index is calculated by the Food and Agriculture Organization (FAO) based on the weighted average of price changes for a representative food commodity basket.
Historical Context
Fluctuations in the Global Price of Food Index can have significant implications for inflation, trade, and policies related to food production, distribution, and social safety nets.
Key Facts
- The index reached an all-time high in 2022, surpassing the previous peak during the 2008 food price crisis.
- Food prices are a major driver of inflation in many developing economies.
- Volatility in the index can increase risks of food insecurity, particularly for low-income populations.
FAQs
Q: What does this economic trend measure?
A: The Global Price of Food Index measures the international market prices for a basket of major food commodities, providing a comprehensive indicator of global food affordability.
Q: Why is this trend relevant for users or analysts?
A: Fluctuations in the Global Price of Food Index are closely monitored by economists, policymakers, and international organizations as they can have significant implications for inflation, trade, and food security.
Q: How is this data collected or calculated?
A: The index is calculated by the Food and Agriculture Organization (FAO) based on the weighted average of price changes for a representative food commodity basket.
Q: How is this trend used in economic policy?
A: Movements in the Global Price of Food Index are used to inform policies related to food production, distribution, and social safety nets, as well as trade and monetary policies aimed at addressing inflationary pressures.
Q: Are there update delays or limitations?
A: The Global Price of Food Index is updated monthly by the FAO, with a slight delay in data availability.
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Citation
U.S. Federal Reserve, Global Price of Food Index (PFOODINDEXM), retrieved from FRED.