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Lebanon ranks first in world food price inflation 

May 9, 2023 at 9:27 am

A customer hands over a Lebanese pound banknote in a bakery on Hamra Street in Beirut, Lebanon, on Tuesday, April 13, 2021 [Francesca Volpi/Bloomberg via Getty Images]

Lebanon topped the list of countries with the highest food price inflation rates in the world, recording a 352 per cent nominal food inflation rate, a World Bank report has found.

The Lebanese people are suffering from a high cost of living and high prices of basic goods and services, energy, and transportation.

Lebanon also topped a list published by the World of Statistics website, Lebanon ranks first when it comes to food inflation, ahead of Venezuela (158 per cent), Argentina (110 per cent), Zimbabwe (102 per cent), Turkey (53.92 per cent), Pakistan (48 per cent), Poland (24 per cent), Czech Republic (23.5 per cent), Germany (21.2 per cent), and Sweden (19 per cent).

A few days ago, the World Bank stated in a report that Lebanon recorded the highest food price inflation rate in the world, with an increase in prices by 261 per cent in the period between the end of February 2022 and the end of February 2023.

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