Ghana listed in World Bank’s 10 countries with worst food inflation

The World Bank has listed Ghana, Egypt, Rwanda and Sierra Leone among the ten countries with the worst food inflation rate in the world.

The report, released on the official website of the global financial institution, ranked Lebanon as the country with the highest food inflation rate in the world.

The report ranked Egpyt, Sierra Leone, Turkiye, Rwanda, Ghana, Guinea, Pakistan, Suriname and Malawai as other countries on the list of ten nations with the highest inflation rate.

The bank concluded after reviewing the Consumer Price Index (CPI) of countries between May and August 2023.

According to the report, food inflation was rife in Africa, North America, Latin America, South Asia, Europe, and Central Asia.

“Information from the latest month between May and August 2023 for which food price inflation data are available shows high inflation in many low- and middleincome countries, with inflation higher than 5 percent in 52.6 percent of low-income countries, 86.4 percent of lower-middle-income countries, and 64.0 percent of upper-middle-income countries with many experiencing double-digit inflation. In addition, 69.6 percent of high-income countries are experiencing high food price inflation. The most-affected countries are in Africa, North America, Latin America, South Asia, Europe, and Central Asia,” the report read.

Credit: naijanews.com

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