FAO Global and regional consumer food inflation monitoring

Global overview
The three month period of August to October 2014 saw global food consumer price inflation continue to decline to below 5% year-over-year, as forecasted in the previous release, driven largely by Asian food prices. Short term forecasts predict stable food inflation rates till January 2015, when the annual growth rate is expected to level at 4.7%.

Food consumer price inflation – global and regions (year-over-year)

Source: ILO (Laborsta) for the country food CPIs, FAO Statistics Division for the calculation



FAO’s Global and Regional Food Consumer Price Indices (CPI) measure food inflation for a group of countries at different geographical scales: sub-regional (e.g.  South America), regional (e.g. Americas) and global (world, all countries). The Global Food CPI covers approximately 150 countries worldwide, representing more than 90% of the world population.

The source of data for the country CPIs are the International Labour Organization (ILO), the UN Statistics Division and websites of national statistical offices or central banks. The aggregation procedure is based on the use of population weights. We gratefully acknowledge the Statistics Division of the ILO for their methodological and technical guidance on the compilation of regional food inflation indices.

Because of significant conceptual and methodological differences involved in the compilation of national CPIs by countries around the world, any global and regional CPI aggregates should be used with caution.