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World food prices are up 30% in a year

World food prices have surged to the highest level in more than a decade, driven by robust demand and lackluster harvests, according to the United Nations.

Prices increased for the third consecutive month in October, rising 3% over September, according to an index published by the Food and Agriculture Organization of the United Nations (FAO). The gains were driven by a sharp rise in vegetable oil and wheat prices.

The FAO Food Price Index tracks monthly changes across a range of food commodities. The index has risen by more than 30% over the past year. It now stands at its highest level since July 2011, the FAO said on Thursday.

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