Food price inflation remains high around world: WB (Business Insider)
- Impact Area
“The World Bank in recent data shows that the domestic food price inflation in almost all low-and middle-income countries remains high across the world between October 2022 and February 2023,” writes the Business Insider (Bangladesh).
The report mentions that “one year after Russia’s invasion of Ukraine, the International Food Policy Research Institute (IFPRI) reviewed experiences of the past year and remaining uncertainties about food security in the future.
The war in Ukraine jeopardized more than one-third of the world wheat trade, 17 percent of the world maize trade, and almost 75 percent of the world sunflower trade, causing prices of wheat futures to jump almost 60 percent within a week of the war’s outbreak; corn and soybean prices were up more than 15 percent.”
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Also published in Zimbabwe Mail as “Zimbabwe remains highest on food price inflation globally says World Bank.”