FAO’s latest completed monthly dataset shows a 1.9% rise in the headline index and an 11.9% jump in sugar
International food commodity prices moved upwards across all five components of the Food and Agriculture Organization’s benchmark in August 2026. The FAO Food Price Index reached 133.3 points, rising 2.5 points, or 1.9%, from its revised July level.
The movement was broad but uneven. Sugar recorded by far the strongest percentage increase. Cereals and dairy rose by more than 2%, while meat and vegetable oil posted smaller gains.
These numbers measure changes in international commodity quotations. They are not national retail-price or household-inflation figures. What consumers pay also depends upon exchange rates, taxes, transport, processing, storage, domestic output, regulation and commercial margins.
August 2026 food-price trend table
| FAO index | Index level | Monthly change | Data context |
|---|---|---|---|
| Overall food index | 133.3 | +1.9% | All five groups rose |
| Vegetable oil | 196.9 | +0.6% | Third consecutive increase |
| Meat | 127.9 | +1.0% | Close to year-earlier level |
| Cereals | 116.3 | +2.2% | Highest since May 2024 |
| Dairy | 119.2 | +2.3% | First increase in four months |
| Sugar | 106.4 | +11.9% | Highest since June 2025 |
How the headline compares
| Comparison | Difference |
|---|---|
| August versus revised July 2026 | +2.5 points / +1.9% |
| August 2026 versus August 2025 | +3.3 points / +2.5% |
| August 2026 versus March 2022 peak | −26.9 points / −16.8% |
This comparison prevents two opposite misreadings. Prices rose in August and were above their year-earlier level, but the index remained considerably below the exceptional March 2022 peak. The evidence therefore records renewed pressure, not a return to that high.
Sugar dominated the month
The sugar index rose by 11.3 points to 106.4. FAO connected the movement with a tighter supply picture across several producing regions: hot and dry conditions affected European sugar-beet expectations; weather affected Asian production prospects; and output in Brazil’s Centre-South region was lower. India’s duty-free raw-sugar import announcement also added to international demand during the reference month.
An 11.9% movement in this index must not be presented as an identical increase in packaged sugar prices in any country. It captures international quotations, not the full domestic supply chain.
Cereals: every listed grain increased
The cereal index rose 2.2% to 116.3 points. Wheat gained 2.6% month on month and stood 15.0% above its year-earlier level. Maize rose 2.5%, sorghum 3.9%, barley 2.6%, and the All Rice Price Index 0.5%.
| Grain | August movement |
|---|---|
| Sorghum | +3.9% |
| Wheat | +2.6% |
| Barley | +2.6% |
| Maize | +2.5% |
| Rice | +0.5% |
The cereal result was therefore not dependent upon one crop. Weather, export logistics, purchasing activity and feed demand affected the components differently.
Vegetable oil, dairy and meat
Vegetable oil had the highest index level, at 196.9 points. Palm and soy oil quotations increased, more than offsetting falls in sunflower and rapeseed oil. The composite could consequently rise even though two constituents declined.
Dairy rose 2.3% after three monthly falls. Skimmed-milk powder increased 3.0%, whole-milk powder 2.4%, and cheese 2.7%; butter was broadly unchanged. Even after August’s recovery, the dairy index remained 21.7% lower than a year earlier. Monthly direction and annual position must therefore be reported together.
Meat increased 1.0%, with poultry, pig and ovine quotations rising while bovine meat declined. FAO warns that its latest meat reading combines observed and projected prices because some quotations arrive after publication. The meat component—and consequently the headline index—may be revised.
What the evidence establishes
- Every major FAO food group increased in August.
- Sugar was the month’s dominant mover.
- All listed cereal categories rose.
- The headline index was higher monthly and annually, but remained 16.8% below the March 2022 peak.
- The result does not prove that retail food inflation rose in every economy.