Jordan ‘least affected’ Arab country by food inflation

(Photo: Freepik)
AMMAN — A recent World Bank report said that Jordan was the least affected Arab country by global food inflation, the Jordan News Agency, Petra. اضافة اعلان

According to the data, Jordan's food inflation rate, which was 3.5 percent, came last after Libya, Oman, Saudi Arabia, Qatar, Iraq, Kuwait, Bahrain, Algeria, Tunisia, Mauritania, Morocco, and Egypt, while Lebanon came in at the top in terms of food price inflation, with a rate of 203.2 percent.

 Food security is one of Jordan's main focuses; last year, the National Strategy for Food Security (2021–2030) was launched alongside the National Plan for Sustainable Agriculture (2022­–2025).

Jordan imports about $4 billion worth of food annually, part of which is raw materials for industry, and the rest is ready for consumption, according to the Jordan Chamber of Commerce.

The National Strategy for Food Security is an implementation of His Majesty King Abdullah's directives to turn Jordan into a regional hub for food security.

The World Bank said that food prices decreased in the third quarter of 2022 but are expected to remain high according to historical standards.

The World Bank's food price index fell 12 percent in the third quarter of 2022 after reaching an all-time high in April, but remains nearly 20 percent higher than it was a year ago.

It explained that food prices are still high due to the devaluation of local currencies. It is expected that those prices will decrease by 5 percent in 2023 before starting to stabilize in 2024, explaining that despite the expected declines, most prices will remain high by historical standards.

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