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The World Bank released the top ten countries most affected by rising food prices in June, including the Arab country Egypt. South Sudan ranked first with 164%, Zimbabwe ranked second with 48%, Liberia ranked third with 16%, Vietnam ranked fourth with 11%, Haiti ranked fifth with 11%, Egypt ranked sixth with 8%, Malawi ranked third with 8%, Nigeria ranked eighth with 7%, Maldives ranked ninth with 6%, and Paraguay ranked tenth with 5%.
- Food Safety Report
On June 3, the World Bank released a food security report pointing out that domestic food price inflation in low- and middle-income countries remains high. 59.1% of low-income countries (inflation has increased by 2 percentage points since the last update on April 25, 2024), 63% of lower- and middle-income countries (down 0.8 percentage points) and 31% of high-income countries have inflation rates exceeding 5%. Middle-income countries (2 percentage points lower) and high-income countries 14.5% (1.8 percentage points higher). In real terms, food inflation exceeds overall inflation in 53% of the 166 countries with data.
In his report, he noted that since the last update on April 25, 2024, the agricultural product and food price index closed up 1% and 6%, respectively, while the export price index closed down 4%. Among cereals, corn and wheat prices closed up 4% and 21%, respectively, while rice prices closed down 1%. Corn prices fell 21% year-on-year, wheat prices rose 7%, and rice prices rose 20%. Compared with January 2020, corn prices rose 19%, wheat prices rose 24%, and rice prices rose 46%.
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