World Bank: The inflation of food prices worldwide is still high

Of the 165 nations where data was available, 71% had inflation on food prices higher than overall inflation.The World Bank reports that there is still significant worldwide food price inflation.In its most recent Food Security Update report, released on Tuesday, the World Bank stated that high inflation was observed in low-, middle-, and high-income nations based on the data available on food prices.It stated that 63.2% of low-income nations had inflation rates more than 5%, a 1.3% increase from the last food update on January 17, 2023. According to the report, there was a percentage change of 0% in 48% of upper-middle-income nations and 73.9% of lower-middle-income countries with inflation rates above 5% from the previous update.The report said that in real terms, food price inflation exceeded overall inflation in 71% of the 165 countries where data was available.