Statistics
 

FAO Global and regional consumer food inflation monitoring

Global overview

World inflation in food consumer products rose by 7.4% in 2013, following a 6.2% increase in 2012. Asian food inflation of 6.1% in 2012 and 8.7% in 2013  drove global  food inflation, with all Asian sub-regions, except Eastern Asia, experience higher food inflation pressures in 2013. Consumers in Africa, on the other hand, benefited from a second year of easing food inflation, which fell from 13.5% in 2011 to 11.4% in 2012 and 7.1% in 2013.

Infra-annual trends show a significant deceleration in food prices in December 2013 and January 2014, the last month for which official data were collected. New FAO forecasts indicate a stabilization of food inflation in February to 5.9%, with a slight pick-up in March and April. These forecasts echo, in part, the recent recovery in agricultural commodity prices, which rose 2.7% and 2.3%, respectively, in February and March 2014. Food price inflation is expected to increase more significantly in Europe and in Asia, remain stable in Africa, and decrease in Latin America.

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

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

Metadata

Metadata

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.