Highlights:

• Since the last update on December 14, 2023, the agricultural and cereal price indices closed 2 percent and 4 percent lower, respectively, while the export price index closed 1 percent higher.
• Domestic food price inflation remains high in low-, middle-, and high-income countries.
• In December 2023, the FAO Food Price Index was 118.5 points, 1.8 points (1.5 percent) lower than in November 2023.
• A World Bank blog post based on the October 2023 Commodity Markets Outlook provides insights into global food price trends. Over the past three quarters, prices have declined, with the World Bank food price index 9 percent lower in 2023 than in 2022.
• According to the Integrated Food Security Phase Classification (IPC), the Gaza Strip is facing an alarming humanitarian crisis marked by catastrophic levels of acute food insecurity.