The United Nations' global index for tracking food prices fell 1.9 percent in December after hitting an all-time high in 2022 amid drought, war, pandemic, and supply chain challenges.
The Food and Agriculture Organization of the United Nations (FAO) Food Price Index, which tracks commonly traded food commodities, averaged 143.7 points in 2022. That is down one percent from the number one year ago, but 14.3 percent above the average value in 2021.
Over that period, essential goods have seen sizable price drops. The price of vegetable oil, for example, was down 6.7 percent from November, hitting their lowest levels since before the war in Ukraine. Cereal prices, meanwhile, were down 1.9 percent from November, while meat was down 1.2 percent.
While welcoming the improvement, the United Nation is urging nations to stay vigilant to avoid the kind of global food shortages that come with higher prices.
"Calmer food commodity prices are welcome after two very volatile years," said FAO Chief Economist Maximo Torero in a news release. "It is important to remain vigilant and keep a strong focus on mitigating global food insecurity given that world food prices remain at elevated levels, with many staples near record highs, and with prices of rice increasing, and still many risks associated with future supplies"
One exception to the steady price declines: dairy products. The FAO Dairy Price Index was up 1.2 percent in December, mostly due to higher international cheese prices.
The Biden administration on Thursday released a plan for improving the nation's cybersecurity by shifting the burden from individuals, small businesses, and local governments to federal agencies and major tech providers.
COVID-19's origins remain hazy. Three years after the start of the pandemic, it's still unclear whether the coronavirus that causes the disease leaked from a lab or spread to humans from an animal.
Paul Vallas and Brandon Johnson will meet in a runoff to be the next mayor of Chicago after voters on Tuesday denied incumbent Lori Lightfoot a second term, issuing a rebuke to a leader who made history as head of the nation’s third-largest city.
Chicago Mayor Lori Lightfoot has lost her bid for a second term. None of the nine candidates in Tuesday’s election won more than 50% of the vote, so Paul Vallas and Brandon Johnson will meet in a runoff to succeed her.
A large cross-section of Americans is at risk of falling below the poverty line as the program that provided more than 32 million people with extra SNAP benefits during the pandemic is set to end. Families received at least $95 extra per month to spend on food.
Conservative justices in the Supreme Court’s majority seem likely to sink President Joe Biden’s plan to wipe away or reduce student loans held by millions of Americans.
Protesters in favor of student loan relief gathered outside the Supreme Court on Tuesday morning, demanding that the top jurists side with President Biden.
