Compared to January 2021, maize prices are 7% lower, wheat prices are 10% lower, while rice prices are 23% higher (See “ pink sheet” data for agricultural commodity and food commodity prices indices, updated monthly.) On a year-on-year basis, maize and wheat prices are 29% and 31% lower, respectively, although rice prices continue their rising trend and are currently 38% higher. Rice and wheat prices, which closed 6% and 2% higher, respectively, than two weeks ago, have driven the increase in the cereal price index.

The agricultural and export price indices closed 1% and 2% lower, respectively, than two weeks ago while the cereal price index closed 2% higher. In real terms, food price inflation exceeded overall inflation (measured as year-on-year change in the overall consumer price index) in 79.4% of the 165 countries for which food CPI and overall CPI indexes are both available.ĭownload the latest brief on rising food insecurity and World Bank responses The most-affected countries are in Africa, North America, Latin America, South Asia, Europe, and Central Asia. In addition, 69.6% of high-income countries are experiencing high food price inflation. Information from the latest month between May and August 2023 for which food price inflation data are available shows high inflation in many low- and middle-income countries, with inflation higher than 5% in 52.6% of low-income countries, 86.4% of lower-middle-income countries, and 64% of upper-middle-income countries with many experiencing double-digit inflation. Domestic food price inflation remains high around the world.

Harvest finance price prediction 2022