Many countries including Pakistan are facing extremely high food inflation as the price of essential items has increased exponentially.
Food inflation is defined as an increase in the price of food commodities. It is caused by increased production, labour and transportation expenses, population and climate changes, food hoarding, and land exploitation.
Recently, the World of Statistics released a list of countries that have the highest inflation on food. The list includes countries like Venezuela, Lebanon, Argentina, Zimbabwe, Iran, Egypt, Turkey, Pakistan, Hungary, Nigeria and others.
In the ranking, Venezuela tops the list of the world’s most expensive countries for food. According to the list, food inflation has reached a staggering 403 percent in Venezuela.
Food inflation has increased in Lebanon as well which ranks second on the list, with food becoming costlier by up to 278 percent.
Argentina ranks third on the list, and its food inflation rate has hit 116 percent. Egypt is ranked fourth with a food inflation rate of 60.72 percent.
Pakistan is placed fifth as the food inflation rate was recorded at 39.52 percent. Iran has been ranked sixth with a food inflation rate of 37.1 percent. Food and drink prices in Nigeria have also increased by 29.68 percent.
Hungary is ranked eighth as the food inflation rate has hit 22 percent. European countries Estonia and Poland reach the top ten list with food inflation of 16.4 percent and 15.6 percent.
Food inflation:
???????? Venezuela: 403%
???????? Lebanon: 278%
???????? Argentina: 116%
???????? Egypt: 68.4%
???????? Turkey: 60.72%
???????? Pakistan: 39.52%
???????? Iran: 37.1%
???????? Nigeria: 26.98%
???????? Hungary: 22%
???????? Estonia: 16.4%
???????? Poland: 15.6%
???????? United Kingdom: 14.8%
???????? Belgium: 13.86%
???????? Ukraine: 13.3%
????????…— World of Statistics (@stats_feed) August 28, 2023
