TEHRAN - In its new report on food security, the World Bank (WB) has announced that Iran was able to reduce inflation of food products by 48 percent in one year, IRNA reported.

Based on the mentioned report, food inflation in Iran was about 79.5 percent in March 2023, which has decreased by 48 percentage points to 31.2 percent in February 2024, and Iran is among the successful countries in reducing food inflation.

Argentina had the highest food inflation rate among the countries in the world; the food inflation rate of this country in February 2024 was reported to be 303 percent, higher than any other country.

Among the 10 countries with the highest food inflation in the world, some West Asian and North African countries, including Lebanon, Turkey, Egypt, and Palestine can be seen.

Lebanon with 103 percent food inflation and Zimbabwe with 84 percent inflation have been ranked second and third respectively. Turkey ranks fourth with 71 percent inflation and Venezuela ranks fifth with 61 percent inflation.

Egypt with 51 percent, Sierra Leone and Myanmar with 50 percent, Palestine with 42 percent, and Nigeria with 38 percent are ranked sixth to tenth in this regard.

“According to the Food and Agriculture Organization of the United Nations (FAO), there is an urgent need for foreign food aid in 45 countries around the world: 33 countries in Africa, nine countries in Asia, two countries in Latin America and the Caribbean, and one country in Europe,” the report said.

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