World food prices at fresh high, says FAO

World food prices rose to a record high in January, according to the UN's Food and Agricultural Organization (FAO). The FAO Food Price Index, which measures the wholesale price of basic foods within a basket, averaged 231 points last month - its highest level since records began in 1990. It was up 3.4% from December, the seventh monthly rise for the index. "These high prices are likely to persist in the months to come," FAO economist Abdolreza Abbassian said. The index is now higher than June 2008 when the cost of food sparked violent protests in countries including Cameroon, Haiti and Egypt. The individual group components of the index, apart from meat, all registered rises in January. The Cereal Price Index averaged 245 points in January reflecting rises in the price of wheat and grain. This was driven higher by flooding in Australia, which is a major wheat exporter. Rice prices fell slightly as the data coincided with harvests in many countries.