Domestic food inflation continued to rise, with consumers in Venezuela, Lebanon, Argentina, Turkey and Egypt particularly affected, according to a World Bank report on October 30.
The latest available monthly data shows rates of food price increases above 5%.
It was found that food prices increased at the level of 5% in 57.1% of low-income economies (compared to 63.2% in the previous reading). It also showed an increase in 83% of lower-middle-income economies (compared to 79.5% previously).
It rose in 59% of upper middle-income economies (compared to 67% previously), and also rose in 64.3% of high-income economies (compared to 78.9% previously).
In real terms, food price increases exceeded overall inflation in 77% of the 170 countries for which data is available, the World Bank said in its latest food security update.
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