Several factors contribute to this issue, including climate change, poverty, and inadequate infrastructure. Additionally, challenges such as currency fluctuations and geopolitical tensions, exemplified by events like the Russian-Ukraine war, have affected the global supply chain of agricultural produce and inputs.
With the continent’s population booming, the delicate dance of supply and demand is under even more pressure. More people translate to more mouths to feed, adding stress to an already stretched-out system.
According to the World Bank’s Food Security Update report by the World Bank for February, domestic food price inflation remains high in low, middle, and high-income countries on the continent.
The report reveals that it will continue to rise in the coming months, driven by the intensifying disruption of market functionality and trade flows, anticipation of below-average harvests, and high fuel and transportation costs.
Food inflation for each country is based on the latest month from October 2023 to January 2024 for which the food component of the Consumer Price Index (CPI) and overall CPI data are available. Real food inflation is defined as food inflation minus overall inflation.
