The Food and Agricultural Organisation (FAO) Food Price Index for July, which measures the monthly change in international prices for five basic food commodities, fell 8% year-on-year, to 213.1 points.
While falling on the corresponding period last year, the food price index has rebounded in the past few months.
The cereals price index surged during July, rising 17% on June and 5% year-on-year, to 259.9 points.
The severe drought in the US has seen the crop prospects deteriorate severely, with grain prices rising accordingly.
The average price in July was only 5% less than the all-time (in nominal terms) high of 274 points in April 2008.
The meat price index averaged 5% lower year-on-year in July, at 167.7 points, with a decline in all meat categories influencing the lower monthly value.
Pig meat prices, in particular, declined the furthest, while bovine, ovine and poultry prices also eased during July.
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