The latest report from the Food and Agriculture Organization of the United Nations - showed that its Food Price Index rose by 0.6% month on month in April.

Now this might not sound like much, but -  this marks the first increase in the FFPI since March 2022, when prices rose by 13.1% on month  in the wake of Russia’s February 2022 invasion of Ukraine. 

In terms of the constituent groupings, the increase was driven by a 1.3% m-o-m rise in meat prices and a 17.6% m-o-m rise in the price of sugar.

To help us understand what’s driving these costs and what this means for other commodity prices Rachel Kelly spoke with Matthew Biggin, Commodity Analyst at Fitch Solutions.