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Global staple food prices remained largely stable in August, according to the latest FAO Food Price Index. The Index was nearly 7 percent higher than its August 2024 level but still well below the record high seen in March 2022.

With food crises on the rise, with an estimated 295.3 million people facing high levels of acute food insecurity in 2024. In the face of these stark hunger levels, policymakers, humanitarian organizations, development practitioners, and private sector actors urgently need knowledge about how to effectively enhance the resilience of local and regional food systems.

The chance to prevent widespread famine in the Gaza Strip has passed, according to the IPC Famine Review Committee (FRC). The prolonged food crisis in Gaza reached an unprecedented and devastating level in July and August, with the FRC confirming famine in Gaza Governate and projecting famine thresholds to be crossed in Deir al-Balah and Khan Younis Governates in the coming weeks. This latest update places more than half a million people at risk of starvation.

Worldwide, government spending on subsidies in agriculture, fishing, and fossil fuels amounts to a staggering $1.25 trillion annually. Subsidies play a significant role in every country’s fiscal policies, regardless of income level or spending patterns. Spending on energy and agricultural subsidies consistently accounts for 2%-3% of GDP on average across income levels and make the production and transportation of food cheaper.

The FAO Food Price Index rose by 1.6 percent in July based on increasing meat and vegetable oil prices. The Index remains 7.6 percent higher than its 2024 level but nearly 19 percent below its March 2022 peak.