Ghana ranked sixth in latest top 10 countries with the highest food price inflation

Food is a basic necessity for survival and a fundamental component of our daily lives. However, for many people around the world, the cost of food can be a significant burden on their finances. Expensive food prices in countries can profoundly impact people’s ability to afford nutritious and healthy meals, which can ultimately affect their health and well-being.

One of the primary reasons for expensive food prices in countries is supply and demand. As the population grows, so does the demand for food. When the supply of food is limited, prices can increase, making it more expensive for people to buy the food they need. Additionally, changes in weather patterns, natural disasters, and other factors affecting food production and distribution can lead to price fluctuations.

Furthermore, production, processing, and transportation costs can also affect food prices. If the cost of producing, processing, and transporting food is high, the prices of food products can also be high. This can happen when there is a shortage of resources, such as water or land, or when energy prices are high, which can increase the cost of transportation and production.

Because food is the most essential commodity in any economy, considering the amount a country’s residents spend on feeding and living would help give an insight into the cost and standard of living in said region.

The latest statistics released by the World Bank, list of countries that have highest food price inflation includes Lebanon, Egypt, Turkey, Rwanda, Ghana, Malawi and others.

In the rankings, Lebanon tops the list of the world’s most expensive countries for food. According to the list, food inflation has reached 44%. Food inflation has increased in Egypt as well which ranks second on the list, with food becoming costlier by up to 36%.

Rwanda ranks third on the list, and its food inflation rate has hit 15%. Turkey is ranked fourth, with a food inflation rate of 14%. Food and drink prices in Sierra Leone have increased by 12%, placing them fifth on the list. Ghana ranks sixth, with a food price inflation of 12%.

Suriname became the seventh country in which inflation increased by 11%. The eighth country is Malawi, with a food inflation rate of 11%. Burundi is ranked ninth, with an 11% increment in food price inflation followed by Bahrain, with a food price inflation of 9%.