Key Factors Influencing Food Inflation in Africa

As identified by the World Economic Forum, the principal issues affecting food inflation in Africa include changes to the global food price index, consumption share, reliance on net imports, and exchange rates.

Worldwide, domestic food price inflation is still very high. Most low- and middle-income countries experience substantial inflation, according to data from the World Bank between February and May 2023, which shows inflation above 5% in 63.2% of low-income countries, 79.5% of lower-middle-income countries, and 67% of upper-middle-income countries.