By Yusuf Khan
Food prices held steady in November, as lower prices for grains and meats were offset by rising costs for sugar, vegetable oil and dairy products, the United Nations’ Food and Agriculture Organization said Friday.
The UN FAO’s food price index, which tracks global prices for a basket of staple foods, averaged 120.4 points in November, unchanged from October’s revised level.
The lack of a price fall could add worry for policymakers trying to fight persistently high inflation rates, with soaring cost of food adding pressure on consumers. However, food prices are still 11% lower than they were a year ago.
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