Iran’s Food Inflation Rate Halves: World Banks
TEHRAN (Tasnim) – The World Bank (WB) in its latest report on Tuesday said the inflation rate of food in Iran has halved and reached 42 percent.
In a report on the “Situation of Food” in 166 countries, including Iran, the World Bank said many low- and mid-income countries are grappling with the skyrocketing prices of food.
Most of these countries are in Africa, North America, Latin America, South Asia, Europe and Central Asia, it noted.
Introducing the top 10 countries in terms of annual food inflation rate, the World Bank added that Venezuela stands in the first place, followed by Lebanon and Zimbabwe.
The World Bank statistics meanwhile reveal a considerable drop in the inflation rate of food in Iran.
It said Iran’s inflation rate of food in the 12-month period ending July 2023 has halved.
The World Bank put Iran’s inflation rate of food in July 2022 at 90.2 percent, which was caused by the elimination of the preferential exchange rate of basic foodstuffs
