Food prices notched a 1.3% monthly increase with Russia's suspension of a wartime deal that allowed Ukrainian food shipments to reach global markets and India's ban on exports of non-Basmati white rice.
The Food and Agriculture Organization's Food Price Index, which shows the monthly change in global prices of food commodities, rebounded in July mainly due to the rising price of rice and vegetable oils. The last such increase was in April due to higher sugar prices.