FAO food price index rises to 133.3 in August 2026

The Food and Agriculture Organization of the United Nations (FAO) reported that its Food Price Index (FFPI) averaged 133.3 points in August 2026. This is 2.5 points, or 1.9 percent, higher than the revised July figure. All commodity groups increased, though by varying degrees. Compared with August 2025, the index is up 3.3 points (2.5 percent). It remains 26.9 points (16.8 percent) below the March 2022 peak.

The cereals sub-index stood at 116.3 points, up 2.5 points (2.2 percent) from July. This is the highest level since May 2024. Prices rose across all major grains, driven by strong demand and harvest concerns in key regions. Vegetable oil prices climbed for the third consecutive month to 196.9 points (+0.6 percent), the highest since June 2022. Palm and soybean oil prices drove the increase, outweighing drops in sunflower and rapeseed oil.

The meat index reached 127.9 points (up 1.0 percent), close to its level a year earlier. Poultry, pork, and mutton prices all rose. Dairy products increased for the first time in four months, reaching 119.2 points (+2.3 percent). They remain 21.7 percent below the August 2025 level. Sugar saw the sharpest jump, hitting 106.4 points. That is 11.3 points (11.9 percent) more than in July and the highest since June 2025. The FAO attributes this to supply concerns for the 2026/27 season following persistent heat and drought.

Poland in context

For comparison, these figures can be set against Poland's consumer price index, published by the Central Statistical Office (GUS). In annual terms (previous year = 100), inflation was 105.1 in 2021, 114.4 in 2022, 111.4 in 2023, 103.6 in 2024, and 103.6 in 2025. The 2026 column is empty because the year is not yet closed.

The 2022 peak, when the index exceeded 14 percent, coincides with the historic FAO index peak. However, food price dynamics in Poland and globally do not always move in step. The FAO index measures agricultural raw materials in international trade, not retail prices. Margins, processing, transport, exchange rates, and taxes sit between the two. That is why sugar can rise nearly 12 percent in a month while Poland's annual CPI stays around 3.6 percent.

What to watch next

Three metrics warrant attention: the length of the vegetable oil price streak (three months), the scale of the dairy rebound (first rise in four months, still well below last year's level), and the record pace of sugar price growth. If drought persists in major sugar cane and beet growing regions, pressure on the sugar index will not ease quickly.