09
Feb
The latest Food Security Update report from the World Bank forecasts that food prices will persist at elevated levels throughout 2024. The report highlights the prevalence of high inflation in low, middle, and high-income countries during 2023. The Washington-based lender revealed that 63.2% of low-income countries experienced inflation rates exceeding 5% in 2023, marking a 1.3% increase from the previous update in January 2023. Additionally, the report noted that 73.9% of lower-middle-income countries and 48% of upper-middle-income countries faced inflation above 5%, with no percentage change since the last update. In high-income countries, 44.4% reported food inflation surpassing 5%, indicating…