With food prices so high, consumers are starting to shut their wallets and a cooling in prices have ensured.
Prices of some food items like cooking oil, coffee and avocado are starting to drop though they still remain relatively high, the latest food price data shows.It is unlikely food prices will suddenly fall into recessionary territory although the likelihood of fiercer inflation has decreased, said Minwoo Nam from Tridge, an agriculture commodities data group.
Prices of those food items are starting to drop though they still remain relatively high, the latest food price data shows. On the other side of the globe, prices of avocados from the biggest producers Mexico, Peru and Colombia have fallen, according to Tridge, which has visibility of food commodities prices through the trades they facilitate.
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