Food inflation in Egypt surged to 61.8% in March 2023, compared to 26% in April 2022, according to the World Bank’s latest food security update. However, real food inflation - food inflation minus overall inflation - in Egypt hit 30% year-on-year last month. Domestic food price inflation remained high in almost all low-, middle-, and high-income countries. In real terms, food price inflation exceeded overall inflation (a year-on-year change in the overall consumer price index) in 90.7 percent of the 162 countries. In June 2022, the World Bank approved a $500 million loan to strengthen Egypt’s resilience to food crises and to support reforms in food security policies, including improving nutritional outcomes.

Source: The North Africa Journal April 11, 2023 10:39 UTC