World Bank ranks Zambia eighth in Africa for highest food inflation

The World Bank has ranked Zambia eighth among African countries with the highest food inflation as of May 2024, with a rate of 16.2 percent.

This was before the rate decreased to 15.2 percent in June 2024, after the report had already been published.

In the World Bank’s Food Security Update, Zambia was placed behind Malawi and Nigeria, which jointly lead the continent with food inflation rates of 40.7 percent.

“Chad, the Democratic Republic of the Congo (particularly its eastern provinces), Myanmar, the Syrian Arab Republic, and Yemen are also identified as hotspots of very high concern.

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“These regions face significant levels of acute food insecurity exacerbated by worsening factors such as conflict, displacement, and economic instability. Recent additions to the list include the Central African Republic, Lebanon, Mozambique, Myanmar, Nigeria, Sierra Leone, and Zambia, while Burkina Faso, Ethiopia, Malawi, Somalia, and Zimbabwe continue to face acute hunger,” the report highlighted.

According to the report, domestic food price inflation remains high.

Data from the latest month between February and May 2024 show high inflation in many low-and middle-income countries.

Inflation was higher than five percent in 59.1 percent of low-income countries, 63.0 percent of lower-middle-income countries, 36.0 percent of upper-middle-income countries and 10.9 percent of high-income countries.

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