Sri Lanka ranks third on high food inflation figures

COLOMBO (News 1st) - A report on food security by the World Bank has revealed that Sri Lanka is in the third place according to the real food inflation figures between September 2021 and August 2022, and at the fourth place in consideration of nominal food inflation.

Sri Lanka ranks fourth in the world in terms of nominal food inflation, at 91% on an y-o-y basis, while the country has ranked third in terms of real food inflation, with a rate of 30% y-o-y.

According to the World Bank report, Zimbabwe, Lebanon and Venezuela are ranked first, second and third among the countries with high nominal inflation.

The report indicates that 205.1 million people worldwide will face a food crisis or a acute food crisis due to this situation.

The report also warns of the threat of famine for the Somali Gulf region between October and December this year.

Projecting a decrease in production of rice in 2022, the Agricultural Market Information System (AMIS) assessed that reduced harvest prospects for India and a few other countries, including Bangladesh and Sri Lanka, outweighed slight upward revisions for Brazil and a few 
West African countries, although average international rice prices changed little month to month, with mixed movements in the major exporters.