Global Food Costs Jump Back Near Decade-High on Harvest Woes - Bloomberg

Global food prices climbed back to near the highest in a decade on smaller crop prospects, reviving concerns about inflationary pressures.

After easing in the previous two months, a United Nations gauge of food costs rose 3.1% in August to near a peak set in May. The advance was driven by reduced grain production expectations, frosts that hurt sugar-cane crops in top grower Brazil and tightening oilseed supplies, the UN’s Food and Agriculture Organization said Thursday.

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