Food Inflation Is Still High Around the World

Domestic food price inflation remains high, with people in Venezuela, Lebanon, Argentina, Turkey and Egypt particularly hard-hit, according to the World Bank.

The most recently available monthly data show rates of increase above 5% in:

  • 52.6% of low-income economies (vs. 63.2% in prior reading)
  • 86.4% of lower-middle-income economies (vs. 79.5% prior)
  • 64% of upper-middle-income economies (vs. 67% prior)
  • 69.6% of high-income economies (vs. 78.9% prior)

In real terms, food price inflation exceeded overall inflation in 79.4% from 165 countries where data are available, the World Bank said in its latest food security update.

Source from: Bloomberg