Highlights:

• Since the last update on January 12, 2023, the agricultural and cereal price indices closed 1 percent and 2 percent higher, respectively, than 2 weeks ago. The export index closed at the same level.

• Domestic food price inflation continues to remain high in almost all low-, middle-, and high-income countries.

• Fertilizer prices have declined from their peak in early 2022 but remain at historically high levels.

• The Food and Agriculture Organization (FAO) Food Price Index (FFPI) declined for the ninth consecutive month.

• A recent World Bank blog post called for a systemic shift in agricultural and food systems to transform food production, transportation, and consumption.

• A joint press release from the United Nations System and the UN Global Action Plan on Child Wasting called for urgent action to protect the most vulnerable children in the 15 countries hardest hit by the unprecedented food and nutrition crisis.