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Prices for sugar, dairy and cereals are being seen as the main contributor for the drivers of the increase.
The index, which measures the monthly changes for a basket of dairy, cereal, oilseeds, meat and sugar products, increased by 0.7% to 172.6 points in October. The index is now 9% higher than October 2015.
The index has increased each month except July from January, when it was a seven-year low.
Demand for cheese and butter in the EU drove prices up by 3.9% for the month, while sugar prices increased on production shortfalls in India and Brazil.
Abdolreza Abbassian, senior economist with FAO said high production prospects for basic foods such as cereals meant any future price rises would probably be muted.
He also said that currency volatility and uncertainty following the US presidential election will make predictions more difficult.
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