Sri Lanka still among 10 countries with highest food price inflation

Sri Lanka was ranked 7th among the 10 countries with the highest food price inflation in the world, the latest World Bank assessment said.

According to the report, Zimbabwe,Lebanon, Venezuela, Turkey, Argentina and Iran ranked among the first six countries in the assessment while Rwanda, Suriname and Hungary ranked behind Sri Lanka.

The World Bank said that domestic food price inflation remained high around the world. Information between August to November 2022 showed high inflation in almost all low-income and middle-income countries; 88.2% of low-income countries, 90.7% of lower-middle-income countries, and 93% of upper-middle-income countries had seen inflation levels above 5%, with many experiencing double-digit inflation.

The share of high-income countries with high food price inflation had risen to 81.8%. The countries affected most are in Africa, North America, Latin America, South Asia, Europe, and Central Asia.