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The FAO Food Price Index is a measure of the monthly change in international prices of a basket of food commodities. It consists of the average of five commodity group price indices, weighted with the average export shares of each of the groups. It is a global benchmark for monitoring inflationary pressures in the food supply chain.
The index is calculated as a trade-weighted average of price indices for cereals, vegetable oils, dairy, meat, and sugar, using international price quotations.