Turkey widens gap with global food inflation

While global food prices remained unchanged month-on-month and fell by 2 percent year-on-year, in Turkey they rose by more than 68 percent year-on-year.

The gap between Turkey and global food inflation is widening. While global food prices fell by 2.1 percent year-on-year, they rose by 68.2 percent in Turkey.

World food prices remained unchanged on a monthly basis in June as increases in vegetable oil, sugar and dairy indices were offset by declines in cereal prices.

The world food price index compiled by the Food and Agriculture Organization of the United Nations (FAO), which tracks monthly changes in the prices of cereals, oilseeds, dairy products, meat and sugar, was 120.6 in June, unchanged from a revised 120.6 in May.

The May food price index was previously announced as 120.4.

The world food price index in June is 2.5 percent below the level of a year ago and 24.8 percent below the historical peak recorded in March 2022 with Russia’s invasion of Ukraine.

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