Sri Lanka ranks 5th among the 10 countries with highest food price inflation - World Bank

Sri Lanka ranks 5th among the 10 countries with the highest food price inflation, according to the latest World Bank assessment.

IMPORTANT FACTS -

According to the World Bank assessment, Lebanon, Zimbabwe, Venezuela and Turkey ranked first four countries, while Iran, Argentina, Suriname, Ethiopia and Moldova ranked behind Sri Lanka.
The World Bank said record high food prices have triggered a global crisis that drives millions of people to extreme poverty, hunger and malnutrition.
The Ukraine war, supply chain disruptions, and the COVID-19 pandemic have pushed food prices to an all-time high.
Rising food prices have a greater impact on people in low- and middle-income countries.
These countries spend a larger share of their income on food than people in high-income countries.

Domestic food price inflation at high worldwide :

According to the data, almost all low and middle income countries have high inflation between April and July 2022.
The World Bank says countries should lift trade restrictions or export bans on fertilizers.
The use of fertilizers should be made more efficient by giving proper incentives to the farmers.
Investing in innovation to develop best practices and new technologies can help increase production per kilogram of fertilizer.

ADDITIONAL INFORMATION -

Top 10 Countries hit hardest by Food Inflation :

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