In September, price increases were more pronounced for vegetable oils and cereals, and for dairy products prices remained stable, while sugar and meat prices fell from their August levels.
The United Nations Food and Agriculture Organization (FAO) reported that in September 2020 the food price index averaged 97.9 points, i.e., 2% more than in August and already 4.6% above its value a year ago.
Explained by the uncertainty reported in the markets due to covid-19 disease, in June 2020 the global food price index registered a 2% variation from the previous month.
The Food and Agriculture Organization of the United Nations (FAO) reported that due to market uncertainty caused by covid-19 disease, prices of vegetable oils, sugar and dairy products rebounded to their highest level in several months after sharp declines in May, while in the cereals and meat markets most prices came under downward pressure.
Discounts and offers, increase in the price level generally and the rise in operating costs due to new health and safety protocols are the main threats to the profitability of companies in this new commercial reality.
Given this context of economic and health crisis, which derives from the outbreak of covid-19 at the global level, Ariel Baños, a specialist in price management and founder of Fijaciondeprecios.com, explains what are the main threats that could affect the profitability levels of companies, and details some strategies that could be applied to mitigate the adverse effects.
During the second month of the year, the Consumer Price Index registered a 3.99% year-on-year variation, a rise that was determined in part by the behavior of the prices of education services, hotels and restaurants.
After the inflationary rhythm went from 3.8% to 4.1% between November and December 2019, during January 2020 the year-on-year CPI was 4.3%.
In the first month of 2020, the monthly variation of the Consumer Price Index (CPI) was 0.24% (0.03% in January 2019), an increase driven by the rise in the price of services related to housing, some food and recreational and cultural items and services. With this result, year-on-year inflation stood at 4.30% (3.95% twelve months earlier), reported the Central Bank of Honduras.
Up to January this year, the FAO food price index rose by 11% compared to the same month in 2019, explained by the increase in the prices of meat, dairy products, vegetable oils and sugar.
From FAO's monthly report:
» The FAO Food Price Index* (FFPI) averaged 182.5 points in January 2020, up 1.3 points (0.7 percent) from December 2019 and 11.3 percent higher than the same month last year.
The variation in the price of some foods of agricultural origin, transport and health, determined the 4.08% year-on-year increase in the CPI reported in December last year.
In December 2019, the Consumer Price Index (CPI) showed a 0.42% variation (0.19% in December 2018), reflecting the price increase in some foods of agricultural origin, transport and health.
As of December last year, the FAO food price index was up 13% over the same month in 2018, explained by rising prices of meat, dairy products, vegetable oils and sugar.
From the monthly report of the FAO:
» The FAO Food Price Index* (FFPI) averaged 181.7 points in December 2019, up 4.4 points (2.5 percent) from November, marking the third month of consecutive increase. Strong rallies in vegetable oils, sugar and dairy markets pushed up the overall value of the Index to its highest level since December 2014. However, for 2019 as a whole, the FFPI averaged 171.5 points, only 3 points (1.8 percent) higher than in 2018 and still significantly (58 points or 25 percent) below its peak of 230 points registered in 2011.
During November, the CPI in Honduras registered a 3.8% variation with respect to the same month in 2018, an inflationary rhythm lower than the 4.1% rate reported in October.
The monthly variation of the Consumer Price Index (CPI) was 0.30% in November 2019, lower than that recorded in the same month of 2018 and 2017 (0.53% and 0.49%, in order), the increase in the index reflects the rise in prices in some food products and fuels, reported the Central Bank of Honduras (BCH).
Last month FAO's food price index rose 10% from November 2018, explained by rising prices of meat, dairy products and vegetable oils.
From FAO's monthly report:
» The FAO Food Price Index* (FFPI) averaged 177.2 points in November 2019; up 4.7 points (2.7 percent) from October and 15.4 points (9.5 percent) from the corresponding period last year.
During October 2019, the CPI registered a 4.1% variation with respect to the same month in 2018, an inflation rate that is lower than the 4.4% reported in September.
In October 2019, monthly inflation -measured through the variation of the Consumer Price Index (CPI)- was 0.24%, lower than the registered in October 2018 (0.56%). The monthly result is mainly the result of the increase in the price of some food products and fuel, informed the Central Bank of Honduras.
In the tenth month of the year, the FAO food price index rose 6% from October 2018, explained by rising prices of sugar, meat, dairy products and vegetable oils.
From FAO's monthly report:
» The FAO Food Price Index* (FFPI) averaged 172.7 points in October 2019, up 1.7 percent (3 points) from September and 6.0 percent higher than in the corresponding period last year. The increase in October marked the first significant month-on-month rise in the value of the Index since May 2019, as surges in the prices of sugar, cereals and, to a lesser extent, meat and vegetable oils, more than offset a small decline in the value of the dairy sub-index.
During the ninth month of the year, the CPI registered a 4.4% variation with respect to September 2018, being health services and housing rentals, the items that registered the most important increases.
In September 2019, monthly inflation -measured through the variation of the Consumer Price Index (CPI)- was 0.15%. The Central Bank of Honduras reported that the above is explained by the increase in the prices of rental housing and some services for its maintenance, medicines and health services, counteracted by the reduction in the prices of fuels and some food products.
In the ninth month of the year, the FAO food price index increased by 3% compared to September 2018, explained by the rise in the prices of sugar, meat, dairy products and vegetable oils.
From FAO's monthly report:
» The FAO Food Price Index* (FFPI) averaged nearly 170 points in September 2019, unchanged from August but 3.3 percent higher than in the corresponding period last year. While in September sugar prices fell sharply, the decline was almost entirely offset by higher prices of vegetable oils and meat. The Dairy index was down only marginally, whereas that of cereals remained steady.
During August, the inflationary rhythm was reduced for the third consecutive month, falling to 4.29%, which is explained by the behavior of the prices of Food and non-alcoholic beverages.
The monthly variation of the Consumer Price Index (CPI) was 0.06% in August 2019, lower than that observed in the same month of the previous year (0.44%), a result mainly because of the reduction in the prices of some foodstuffs, which was compensated by increases in the rent of housing, some medicines and health services, informed the Central Bank of Honduras (BCH).
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