The FAO Food Price Index was marginally lower in May, down 0.9 points to 157.4, but it is still 29.2 points or 22.8% higher than the same time last year.

The drop reflects a fall in dairy, vegetable oils and sugar, which more than offsets the increase in the meat and cereals price indices.

Meat reached an all time high at 122, up from 121.4 the previous month and 14.6 points ahead of May 2021. Cereals also increased by 4.6 points to 173.4, which is a jump of almost 40 points compared with May last year.

Meanwhile, the dairy indices show a 5.1 point drop to 141.6 in May, though this is still 20 points higher than May of last year.

Vegetable oils, which are the fastest rising category, also posted a drop in May, down 8.2 points to 229.3. This is still 54.4 points ahead of May 2021.