27 minutes agoWorld Bank: Prices in Kosovo rose by 19.2%
Periskopi(4 years ago)
(4 years ago)The World Bank has shown that food prices in Kosovo have increased by 19.2 percent. As for the countries of the region, the World Bank weighs Albania at 13.2 percent inflation, Serbia at 19.3 percent, northern Macedonia at 21.5 percent, and Montenegro at 23.1 percent. Price inflation [...]
Local food prices inflation remains high worldwide, according to the World Bank.
In Kosovo, food inflation was at 19.2 percent.
In its food safety update, the World Bank announced that between April and July 2022, inflation in food products is high in almost all low and medium-income countries.
92.9% of low income countries, 92.7% of low-income countries and 89% of high-income countries have seen inflation rates above 5%, where many experience digital inflation.
According to the World Bank report, inflation in food products for June in Kosovo was 19.2 percent.
The Statistics Agency, meanwhile, has shown that the annual rate of moderate inflation in July 2022, by July 2021, was 14.2 percent.
As for the countries of the region, the World Bank weighs Albania at 13.2 percent inflation, Serbia at 19.3 percent, northern Macedonia at 21.5 percent, and Montenegro at 23.1 percent.
According to the World Bank report, the share of high-income countries with high inflation has also increased significantly, with around 83.3% experiencing high inflation in food prices.
The World Bank further reports that since 11 August 2022, the agricultural price index is 1% higher than two weeks ago.
Corn and wheat prices are 2% higher compared to January 2022, while rice prices are about 6% higher.
Compared to the January 2021 average, corn and wheat prices indexes are 20% higher, while the rice price index is 16% lower.
According to the World Bank, the war in Ukraine had changed global patterns of trade, production and consumer goods, thus influencing prices to be high levels by the end of 2024, exacerbating food uncertainty and inflation.
After the war began in Ukraine, trade policies of states have begun to change.
The World Bank says that since 11 August, at least 23 countries have implemented 33 food export bans, and at least seven have implemented 11 restrictive export measures.
Among the states that have halted exports is Kosovo, which has banned wheat, corn, flour, vegetable oil, salt and sugar from April 15th 2022 to December 31, 2022.
