The World Bank has indicated that Sri Lanka ranks 6th among the countries with the highest food inflation in the world.
The World Bank states that Sri Lanka’s food inflation is 86%.
Accordingly, it further states that Sri Lanka’s stats in this matter is higher than Iran, Rwanda, Suriname, and Laos.
According to the world bank statistics, Zimbabwe becomes the no.01 country hit hardest by this issue. It is 321% as a percentage. And Lebanon becomes 2nd and Venezuela the 3rd by the statistics.
However, the World Bank stated that; Domestic food price inflation remains high around the world. Information between July to October 2022 shows high inflation in almost all low-income and middle-income countries; 83.3% of low-income countries, 90.7% of lower-middle-income countries, and 95% of upper-middle-income countries have seen inflation levels above 5%, with many experiencing double-digit inflation. The share of high-income countries with high food price inflation has risen to 86.8%.
It also stated as; Following the start of the war in Ukraine, trade-related policies imposed by countries have surged. The global food crisis has been partially made worse by the growing number of food trade restrictions put in place by countries with the goal of increasing domestic supply and reducing prices. As of November 7, 20 countries have implemented 24 food export bans, and eight have implemented 12 export-limiting measures.
The shortage of fuel, transportation problems, and fertilizers also had a big influence on this situation.
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