Latest Update – February 27, 2023
Domestic food price inflation remains high around the world. Information from the latest month between October 2022 and January 2023 for which food price inflation data are available shows high inflation in almost all low- and middle-income countries, with inflation levels above 5% in 88.9% of low-income countries, 87.8% of lower-middle-income countries, and 93.0% of upper-middle-income countries and many experiencing double-digit inflation. In addition, about 87.3% of high-income countries are experiencing high food price inflation. The countries affected most are in Africa, North America, Latin America, South Asia, Europe, and Central Asia.
development.
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compared to their former selves just a generation ago. Although not all countries have managed to rein in economic volatility, most have graduated to delivering an almost “normal” macroeconomic performance. The importance of this achievement cannot be overstated. Not only is macro stability critical to citizen wellbeing, but it is an essential foundation for faster growth and poverty alleviation. Progress can be detected in at least three areas.
economic potential, and improve community wellbeing.
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