Food prices surge in Pakistan; decline globally
ISLAMABAD: Global food prices fell in January 2014, however its carryover effect failed to reach Pakistan, ARY News reported on Friday.
According to United Nation’s Food and Agriculture Organisation's (FAO), the overall food price index declined 4.4% last month, January, in comparison to the preceding month.
Food prices led declines in the costs of sugar, vegetable oils, and cereals, the United Nations food agency said.
The FAO price index, which measures monthly price changes for a basket of cereals, oilseeds, dairy, meat and sugar, averaged 203.4 points in January, down from a revised 206.2 in December.
On the other hand, Pakistan saw a surge in food prices up to 7.2% despite global downfall in prices in the month of January. The increase in prices was recorded especially in items like onion, potatoes, flour and chicken.