FAO Global and regional consumer food inflation monitoring

Global overview
Annual food price inflation fell globally to 5.2% in 2014, the lowest rate in the last four years. All regions saw annual food inflation decreasing from 2011 to 2014, except Latin America and the Caribbean, where food price increase accelerated from 8.4% in 2011 to 9.7% in 2014. The most remarkable decrease was recorded in Africa, where annual food inflation halved from 12.8% in 2011 to 6.3% in 2014. In the same period, Northern America and Europe experienced the lowest food inflation rate, Latin America and Caribbean, Asia and Africa the highest.

Within 2014, global food inflation fell from a high of 6% year-over-year in January to a low of 4.4% in November, before rising to 5% in December when food price inflation rose almost all regions, but in particular in Asia and Eastern Europe. Short term forecasts predict declining food price inflation throughout the first quarter of 2015, down to 4.6% in March 2015.

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.

Due to data collection issues, monthly food CPI updates will be suspended until October 2015