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Arab country ranked third in the world in terms of food price inflation

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Lebanon ranked first in the Arab world and third in the world in the list of countries most affected by food price inflation, after food prices rose by 143% by the end of January last year.

According to the World Bank Food Safety Report, on January 30, Zimbabwe had the highest rate of food price inflation at 285 percent, followed by Venezuela with 158 percent food price inflation and Lebanon at 143 percent.

Argentina ranked fourth with a 95 percent food price inflation rate, while Turkey came in fifth with a 77 percent food price inflation.

Also in the top ten are Ghana, Sri Lanka, Rwanda, Suriname and Haiti, respectively.

The report recorded food inflation at 83.5 percent in low-income countries, while food inflation was recorded at 91 percent in upper-middle-income countries.

The World Bank report highlights that the food crisis is being exacerbated by trade-restriction decisions taken by some countries, stating that 19 countries have prevented the export of 23 types of food since December last year, and stating that 8 countries have taken 12 export-restriction measures.

Source: “Vestnik”

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