Winning Bizness Desk
Mumbai. In the last few years, the trend of leaving India and settling abroad has increased. If you plan to travel abroad, then the budget of food and drink comes first in our mind, but there are some countries in the world, which can shake your budget completely. Today we are telling you about those 10 countries where food inflation is the highest. Recently, World of Statistics has released a list of countries with the highest food inflation in the world on the social media platform Twitter. In this list, countries like Venezuela, Lebanon, Argentina, Zimbabwe, Iran, Egypt, Turkey, Pakistan, Hungary, Nigeria are included.
Record inflation in the Middle East country Lebanon
Venezuela tops the list of the most expensive countries in the world. The food and drink here is much more than other countries. In Venezuela, food items have become expensive by 471 percent. There is also record breaking inflation in the Middle East country Lebanon. It is on the second position in the list. Here food items have become costlier by up to 350 per cent. According to the World of Statistics, food inflation in Argentina has reached 115 percent. It is at number three in the list. Zimbabwe is on the fourth position, where the food inflation rate has reached 102 percent. Food and drink in Iran has become expensive by 78.5 percent and it is at number five in the list. Apart from this, the inflation rate in Egypt has reached 54.7 percent. Food and drink in Turkey has become costlier by 52.5 percent. The food inflation rate in Pakistan has reached 48.65 percent. Hungary is at number nine in the list, where food inflation is 34 percent. Food inflation in Nigeria has reached 115 percent.
What about India?
So far as Food Inflation in India is concerned, the Price Monitoring Cell of the Ministry of Consumer Affairs collects data on retail prices from across India. According to its data, in Delhi, the average monthly retail price of rice increased from Rs 31.10 per kg in March 2022 to Rs 38.26 per kg in March 2023 — a hike of 22.6 per cent. In the same period, the price of wheat increased from Rs 23.33 per kg to Rs 29.39 per kg, a rise of 26 per cent. The price of wheat atta increased from Rs 27.13 per kg to Rs 30.45 per kg, which is an increase of 12.2 per cent.These items are staple foods for most Indians, though the proportion of wheat and rice differs from region to region. The prices have risen even more in states that are deficient in the production of wheat and rice. It is, therefore, no surprise that in March 2023, annual inflation in staple food — cereals and products — at the all-India level was 15.27 per cent.