Charted: The Countries With the Highest Food Inflation in 2024

Rising food inflation impacts global food security and disproportionately affects vulnerable populations.

By Selin Oğuz

Charted: The Countries With the Highest Food Inflation

Rising food inflation impacts global food security and disproportionately affects vulnerable populations.

But from South America to Africa and the Middle East, which countries are the hardest hit by increasing food prices in 2024?

This bar chart, sponsored by Brazil Potash, uses the latest data from Trading Economics to show which countries have the highest food inflation.

Food Inflation Trends by Country and Region

Leading all countries, Argentina is grappling with a 183% year-over-year increase in food prices. The country also has the highest forecasted food inflation in the world, at 120%, for next year’s second quarter

.Argentina’s high food inflation stems from a mix of its currency devaluation, severe droughts, reliance on exports, economic instability, and political unrest.

Palestine is the runner-up for the highest food inflation with 115%. However, it is forecasted to lower dramatically to 12% halfway through 2025.

Meanwhile, six of the next eight countries are all in Africa. The African countries with the highest food inflation are Zimbabwe at 105% and South Sudan at 96%.

At the same time, other African nations, like Malawi, Nigeria, and Angola, face rates between 34% and 44%, highlighting the broader food inflation trend across the continent.

A Solution in Potash

The data shows a disproportionate burden carried by developing economies, where food expenditures constitute a larger share of household budgets.

Solutions may require substantial investments in innovations like crop-enhancing potash to boost yields and stabilize prices.

Learn how you can get involved in solving global food insecurity and cultivate returns in your investment portfolio.

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