Food inflation still high worldwide; Venezuela, Lebanon worst hit

Domestic food price inflation remains high around the globe, with people in Venezuela, Lebanon, Zimbabwe, Argentina and Suriname particularly hard-hit, according to the World Bank. 

The most recently available monthly data show rates of increase above 5% in:

• 61.1% of low-income economies
• 79.1% of lower-middle-income economies
• 70.0% of upper-middle-income economies
• 78.9% of high-income economies

In real terms, food price inflation exceeded overall inflation in 79.8% from 163 countries where data are available, the World Bank said in its latest food security update.