The World Bank has identified Ghana, Egypt, Rwanda, and Sierra Leone among the ten nations grappling with the most severe food inflation rates globally.
In a recent publication posted on its official website and seen by PoliticsNow on Monday, the global financial institution designated Lebanon as the country facing the highest food inflation rate worldwide.
The report categorized Egypt, Sierra Leone, Turkiye, Rwanda, Ghana, Guinea, Pakistan, Suriname, and Malawi as additional nations within the list of the top ten countries experiencing the highest inflation rates.
The World Bank’s assessment, conducted by analyzing the Consumer Price Index (CPI) data from May to August 2023, highlighted the concerning state of food inflation in these countries.
According to the report, the prevalence of food inflation extended across various regions, impacting Africa, North America, Latin America, South Asia, Europe, and Central Asia.
The World Bank emphasized that the information gathered from the latest four-month period showed a widespread issue of high inflation in numerous low- and middle-income countries. In particular, inflation exceeded 5 percent in 52.6 percent of low-income nations, 86.4 percent of lower-middle-income countries, and 64.0 percent of upper-middle-income countries, with many experiencing double-digit inflation. Even high-income countries were not exempt, with 69.6 percent of them grappling with elevated food price inflation.
The report underscored that the most severely affected countries were located in Africa, North America, Latin America, South Asia, Europe, and Central Asia.
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