Argentina and Palestine Experienced the World's Highest Food Inflation in February 2024

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Erlina Fury Santika 07/02/2024 16:24 WIB

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The World Bank compiled a list of the 10 countries with the world's highest food inflation rates at the beginning of February 2024. Argentina remains the highest.

Top 10 Countries with the Highest Food Inflation in the World (February 5, 2024)

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Argentina and Palestine Experienced the World's Highest Food Inflation in February 2024

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Top 10 Countries with the Highest Food Inflation in the World (February 5, 2024)

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At least 10 countries experienced the highest food inflation in the world. This is based on data compiled by the World Bank.

Argentina ranks first, experiencing 40% food inflation year-on-year (yoy) in early February 2024. This percentage has remained unchanged since the data collection on January 18, 2024.

Egypt is second with 27% (yoy) inflation. Similar to Argentina, Egypt's inflation percentage has remained unchanged since the end of January 2024.

Lebanon is third, at 15%. This percentage increased significantly by 7 percentage points from the end of January 2024, which was 8%.

Zimbabwe is fourth at 12% (yoy). This figure is up 4 percentage points from the previous recording of 8%.

Next are Vietnam at 11% and Palestine at 9% (yoy). Inflation in these two countries has not changed since the end of January 2024.

The remaining countries are Malawi (East Africa), Belize (Central America), Turkey, and Haiti, with percentages as shown in the graph.

The World Bank states that domestic food inflation remains high in several countries. Inflation exceeding 5% is experienced by 63.2% of low-income countries.

Inflation exceeding 5% is also experienced by 73.9% of lower-middle-income countries, 48% of upper-middle-income countries, and 44.4% of high-income countries.

"In real terms, food price inflation exceeded overall inflation in 71% of 165 countries," wrote the World Bank on its official website.

(Also read: Tomatoes Were the Biggest Contributor to Indonesia's Inflation in January 2024)

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Argentina and Palestine Experienced the World's Highest Food Inflation in February 2024

Argentina and Palestine Experienced the World's Highest Food Inflation in February 2024

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