Lebanon ranks #1 among ten countries hit hardest by food inflation

With domestic food price inflation remaining high worldwide, the latest information published by the World Bank for between the months of October 2022 and February 2023 shows high inflation in all low- and middle-income countries, including Lebanon, which ranks #1 in “Nominal food inflation,” with 139 percent.  

In addition, Lebanon ranked #7 (15 percent) in “Real food inflation.”  

According to the organization, inflation levels above 5 percent is present in 88.2 percent of low-income countries, 93 percent of lower-middle-income countries, and 89.0 percent of upper-middle-income countries, adding that about 85.7 percent of high-income countries are experiencing high food price inflation.  

The most affected countries are located in Africa, North America, Latin America, South Asia, Europe, and Central Asia. Lebanon was followed by Zimbabwe (138 percent), Argentina (103 percent), and Iran (73 percent).  

Based on the World Bank, since the last update (March 9), “the agricultural, cereal, and export price indices closed 3 percent, 2 percent, and 2 percent lower, respectively.”  

It stated that according to a recent report from the Food and Agriculture Organization of the United Nations (FAO), the index of international food commodity prices decreased for the 11th month in February 2023.   

The World Bank stressed that after the Russia-Ukraine war, the global food crisis had been made worse by the increasing number of food trade restrictions put in place by many countries to increase domestic supply and reduce prices. 

Additionally, based on the Global Report on Food Crisis 2022 Mid-year Update, “up to 205 million people are expected to face acute food insecurity and to be in need of urgent assistance in 45 countries.”