SL ranks 5th among 10 countries with highest food price inflation: World Bank

23 August 2022 09:16 am - 11 - {{hitsCtrl.values.hits}}

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Sri Lanka ranked 5th among the 10 countries with the highest food price inflation in the latest World Bank assessment.

According, Lebanon, Zimbabwe, Venezuela and Turkey ranked first four countries in the assessment while Iran, Argentina, Suriname, Ethiopia and Moldova ranked behind Sri Lanka.

The World Bank said that record high food prices have triggered a global crisis that will drive millions more into extreme poverty, magnifying hunger and malnutrition, while threatening to erase hard-won gains in development.

The war in Ukraine, supply chain disruptions, and the continued economic fallout of the COVID-19 pandemic are reversing years of development gains and pushing food prices to all-time highs.

Rising food prices have a greater impact on people in low- and middle-income countries, since they spend a larger share of their income on food than people in high-income countries. This brief looks at rising food insecurity and World Bank responses to date.

Domestic food price inflation remains high around the world. Information from between April and July 2022 shows high inflation in almost all low- and middle-income countries; 92.9% of low-income countries, 92.7% of lower-middle-income countries, and 89% of upper-middle-income countries have seen inflation levels above 5%, with many experiencing double-digit inflation. The share of high-income countries with high inflation has also increased sharply, with about 83.3% experiencing high food price inflation.

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Comments - 11

BuffaloaCitizen Tuesday, 23 August 2022 09:58 AM

I am not surprised if we are also in the top 5 corrupt nations. The WB has indicated this when they State that any loans to Sri Lanka will be fully monitored, audited and controlled at all stages. This is a slap on our face and our monitoring instituitions.

SSZKHAN Tuesday, 23 August 2022 09:27 PM

Already we are on the top for corruption.Dont worry. No other country will beat us for corruption...

Dieter Ulrich Tuesday, 23 August 2022 10:46 AM

The war in Ukraine started by RUSSIA causing so much suffering. Not only in Ukraine where schools, shelters, hospitals are bombed, women get raped, elderly get attacked. Russia blocked the graintransports and bombed harbour Odessa just one day adter signing the treaty. But not one critical word or question about madman Putin in this newspaper. Sri Lankans are shaking hands with the Russian ambassador. Start reading the worldnews please.

Nafis al Haque Tuesday, 23 August 2022 02:37 PM

Very true the war is started by Russia and it's a shame. But if you allow Americans to deploy their armed forces in the Russian border, how would you like an enemy to build a house next to yours. So Russians are right on their side of the game. Regards

S. Nadarajah Tuesday, 23 August 2022 03:51 PM

Most of asian countries are supporting Russian aggression including India and China, this mad man's aim is to destroy this peaceful world.

Bernard Jayatilake Tuesday, 23 August 2022 12:41 PM

Short-sighted policies with rampant curruption in the state sector coupled with a ruthless family bandysm rule of a nepotism family has led to this sad situation today.

Sunil Tuesday, 23 August 2022 04:04 PM

Congratulations Sri Lanka. What a proud record. Under ranil's wretched rule, ably assisted by the pohottuwa morons, we will be able to win the gold medal for this competition next year.

Ram Tuesday, 23 August 2022 04:34 PM

Thanks to our politicians we all fell into the drain whereas they are enjoying their normal luxuries

Suddha_Uncle Tuesday, 23 August 2022 07:23 PM

Looks like SL has found its true position in the world mixing it with failed states, terrorist states and corrupt states. ☹️ What ever happen to the SL that I fell in love 40 years ago and which I shall never see again in my lifetime.

Sambo Tuesday, 23 August 2022 07:52 PM

This is how are leaders have developed this country. They must be very satisfied now.

Andy Dandy Wednesday, 24 August 2022 07:52 AM

Wow; this is very interesting. US should be on top of that list, I think.

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SL ranks 5th among 10 countries with highest food price inflation: World Bank

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