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Egypt is hardest hit by food inflation in Africa – World Bank
The World Bank has ranked Egypt as the hardest-hit by food inflation in Africa.
In its latest Food Security Update, the World Bank noted that the country’s Domestic food price inflation which is measured as year-on-year change in the food component of its Consumer Price Index (CPI) remains high.
This means that there is a rise in the price of food commodities in the country compared to other countries. Egypt’s food price inflation between September and December 2023 stands at 27%.
Malawi, Zimbabwe, and Burundi followed in the list of top 10 countries hardest hit by inflation, ranking fifth, sixth, and eighth with 9%, 8%, and 8% increase respectively.
The report was collated between September and December 2023 and indicates that inflation is higher in low and middle-income countries compared to upper-middle-income countries and high-income countries.
63.2% inflation was recorded in low-income countries, 73.9% in lower-middle-income countries, 48% in upper-middle-income countries, and 46.3% in high-income countries.
Meanwhile, Argentina tops the list with 40% real food inflation, followed by Viet Nam with 11%, Palestine with 9% and Lebanon with 8%. The rest are Belize with 8% and Turkey with 7%.
