"Economists are pessimists: they've predicted 8 of the last 3 depressions."
--Barry Asmus

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Thursday, May 5, 2011

FAO Food Price Index

This particular report, which is not even noticed by the average Wall Street analyst, is released each month by the Food and Agriculture Organization of the United Nations.  In it, the FAO looks at monthly average changes in overall food prices and in the prices of cereals, oils and fats, sugar, dairy, and meat.
 
Overall, the FAO Food Price Index was virtually unchanged in April.  The Cereal Price Index was up 5.5% (on bad weather and planting delays), the Oils/Fats Index was virtually unchanged, the Sugar Price Index fell 7%, the Dairy Price Index fell 2.4%, and the Meat Price Index stayed level.
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