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Global food price levels reached their highest point since January 2023 in July 2026 as wheat, maize, sugar and vegetable oils moved higher. New data from the Food and Agriculture Organization show how weather-sensitive crops are reshaping international commodity prices, even as meat and dairy prices provide some offset. Key Takeaways The FAO Food Price Index averaged 131.1 points in July 2026, up from 130.3 in June and its highest level since January 2023. Cereal prices rose 3.4 percent during the month, including a 5.8 percent increase in wheat and a 3.6 percent rise in maize. Vegetable oil prices increased 2.0 percent to their highest level since June 2022. Sugar prices climbed 5.6 percent as weather concerns affected expectations for major producing regions. Meat and dairy prices declined, limiting the overall increase in the international food benchmark. The global food price picture shifted higher in July as several major crop markets moved in the same direction at once. The Food and Agriculture Organization of the United Nations said its Food Price Index reached 131.1 points, rising 0.7 points from June. The benchmark, which tracks monthly changes in international prices for globally traded food commodities, reached its highest level since January
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Underlying U.S. Economic Strength Emerges Despite Modest Q2 GDP Growth
Underlying U.S. economic strength remained evident in the second quarter as consumer spending and business investment helped drive 1.5% annualized GDP growth. The latest government data indicates that domestic demand continued to support economic activity despite a slower headline growth rate. Key Takeaways The U.S. economy expanded at a 1.5% annualized rate in the second quarter. Consumer spending remained a primary contributor to economic growth. Business investment, including spending on AI-related infrastructure, supported economic activity. Underlying domestic demand appeared stronger than the headline GDP figure suggested. The GDP report provides additional context for assessing the U.S. economic outlook. The latest U.S. gross domestic product report showed Underlying U.S. Economic Strength remained intact during the second quarter, as consumer spending and business investment supported a 1.5% annualized increase in economic output. The report indicates that domestic demand continued to provide momentum even though the headline growth figure was more moderate than earlier in the year. The Bureau of Economic Analysis reported that consumer spending accelerated during the quarter, while business investment also contributed to overall growth. The composition of the report suggested that key areas of private-sector activity remained resilient despite ongoing economic headwinds. Underlying U.S. Economic Strength Supports Second-Quarter Growth
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