According to World Bank’s latest Food Security Update report, Lebanon has the highest nominal inflation rate in the world at 139% followed closely by Zimbabwe at 138% and Argentina at 108%. The food inflation rate for each country “is based on the latest month from October 2022 to January 2023 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.”
The whole world has been hit by inflation, but Lebanon is paralyzed politically and economically due to one of the worst economic crisis to hit the country ever since its existence. Despite that, local authorities have yet to start implementing reforms and a solid recovery plan.
