WFP: Food Prices Rise Between December & January

Posted February 10th, 2012 at 1:57 pm (UTC-5)
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The U.N. Food and Agriculture Organization says global food prices rose by nearly two percent between December and January.

The FAO tracks a collection of key food commodities and says poor weather in key growing regions played a roll in the rising costs.

Thursday's report says prices rose for all major types of cereals, except rice. The cost of maize rose the most.

Soy and palm oil also saw prices go up, as demand increased and palm oil production lagged.

For consumers, the pain of monthly price increases is eased a bit by the realization that overall prices are lower than they were at this time one year ago.