ISLAMABAD: The consumer price inflation for food items in Pakistan was 35.5 per cent in December on year-on-year basis – the highest in South Asia after Sri Lanka with 64.4 per cent, says the World Bank.
The bank in its latest, “Food Security Update”, stated that the high incidence of climatological shocks, depletion of foreign currency reserves, and depreciation of local currencies keep food inflation high and make healthy food less affordable in South Asia.
The report noted that in December 2022, year-on-year consumer price inflation for food prices was 7.9 per cent in Bangladesh, 7.4 per cent in Nepal, 35.5 per cent in Pakistan, and 64.4 per cent in Sri Lanka.
World Bank confirms fears of growing food insecurity
Last summer, floods caused by higher-than-normal monsoon rains in some parts of South Asia, and less-than-normal rainfall in other parts widely disrupted food production. In Pakistan, floods killed more than 11 million heads of livestock and destroyed more than 9.4 million acres of cropland between June and August 2022 in the most food-insecure provinces of Balochistan and Sindh.
According to the WFP, 6 million people (30 per cent of the population analyzed) experienced acute food insecurity (IPC Phase 3+), and this was projected to increase to 8.5 million between September and December 2022.
In Afghanistan, lack of access to basic services and food insecurity are resulting in increased cross-border population movements. The situation requires continued focus on preparedness and response activities in neighbouring countries, especially Iran and Pakistan, it added.
Copyright Business Recorder, 2023
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