From the BBC, we learn more about the two studies.
The FAO estimates there are 925 million undernourished people in 2010, compared with 1.02 billion in 2009.
But it warned that the fight to reduce hunger would face additional obstacles if food prices continue to rise.
A separate report from Action Aid estimates that hunger costs developing countries $450bn (£292m) a year.
The report says that 90% of these costs stem from lost productivity as a result of malnutrition, while the other 10% is due to higher health system costs.
Action Aid says this is more than 10 times the amount of funding needed to halve hunger by 2015. This is one of the eight United Nations Millennium Development Goals (MDGs).
The MDGs represent a global commitment by members of the UN to reduce poverty and improve lives by 2015.
Targets under threat
Food prices have risen sharply recently, with the price of wheat hitting a two-year high last month after a severe drought and fires in Russia devastated crops there.