Highlights:

• Since the last update on November 09, 2023, the agriculture and export price indices closed 2 percent and 6 percent higher, respectively, while the cereal price index closed 3 percent lower.

• Domestic food price inflation remains high in low-, middle-, and high-income countries.

• In the World Bank October 2023 World Food Security Outlook, updated estimates and projections highlight that global food security conditions are stabilizing slowly but that disparities between income groups are increasing.

• A new Food and Agriculture Organization (FAO) report attempts to capture the “true cost” of global agrifood systems by analyzing the substantial hidden costs associated with the sector. According to its findings, these costs add up to approximately USD 12.7 trillion annually (2020 purchasing power parity, US$), or about USD 35 billion per day, equivalent to about 10 percent of global gross domestic product (GDP) in 2020.