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1.7% surge in food prices – World Bank…

AMMAN – In a recent report, the World Bank
revealed a 1.7 percent increase in food prices by the end of October. This
marks the fourth consecutive month of rising prices, following a 0.6 percent
surge in June, 1.2 percent in August, and 1.3 percent in September. Notably,
prices had declined for two consecutive months in July and May by 1.0 and 1.9,
as reported by Al-Ghad.اضافة اعلان

The general consumer price index in Jordan
saw a 1.19 percent rise in inflation in September compared to last year.
Cumulatively, inflation for the first nine months of this year increased by
2.31 percent compared to the same period last year.

In Africa, North America, Latin America,
South Asia, Europe, and Central Asia. In real terms, food price inflation
surpassed overall inflation by 76 percent in 166 countries.

The report highlighted a global trend of
high inflation in food prices, with 61.9 percent of low-income countries
experiencing inflation rates above 5 percent, an increase of 9.5 percentage
points in the last three weeks. Additionally, 80 percent of countries with
lower-middle-income witnessed an 8.6 percentage point decrease, and the same
decrease was observed in 80 percent of countries with upper-middle-income.

Half of the countries with
higher-middle-income face inflation exceeding 10 percent, with a 12-percentage
point drop in these nations. Meanwhile, 60 percent of high-income countries
grapple with inflation in food prices, seeing a decrease of 7.3 percentage
points.

The report noted that, in the past two
weeks, global agricultural and export price indices increased by 2 percent and
6 percent, respectively, while the grain price index decreased by 3 percent.
The rise in export prices was driven by increases in cocoa, Arabica coffee, and
cotton prices.

Compared to January 2021, corn prices
dropped by 13 percent, wheat prices by 16 percent, and rice prices increased by
20 percent.

Meanwhile, among grains, corn and rice
prices decreased by 5 percent and 2 percent, respectively, while wheat prices
increased by 2 percent since the last update. On an annual basis, corn and
wheat prices fell by 30 percent and 31 percent, respectively, while rice prices
increased by 36 percent.

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