Food prices hike badly affects purchasing power in Pakistan: WB

The World Bank has issued a warning to Pakistan in a study on the country’s food inflation.

According to the World Bank report, rising food prices have harmed Pakistanis’ purchasing power. “Children are deprived of needed food, and families’ purchasing power has dropped 38 percent in Pakistan as food prices rise,” the World Bank reported in its Food Security update.

According to the research, “food prices have been steadily rising for the past 11 months, registering a 47 percent increase.”

“Last year’s devastating floods increased wheat and other prime commodity prices while causing livestock losses in flood-affected areas,” according to a World Bank assessment. “Livestock losses have also deprived flood-affected people of basic foods such as milk and eggs,” WB stated.

“Six million people in neighboring Afghanistan are suffering from severe drought.” In Afghanistan, nine out of ten families are food insecure, according to the survey.

Global Hunger Index

Pakistan was classified as a seriously afflicted country with a score of 26.1 in the World Hunger Index study released in early May.

According to the GHI research, hunger in Pakistan has reached alarming proportions, putting the country in the category of severely impacted countries.

The Global Hunger Index shows how much and how many individuals in various countries have access to food. This index is updated annually with the most recent data and highlights the successes and failures of hunger programmes around the world.

Pakistan was ranked 99th out of 121 nations in the World Hunger Index 2022, with a steady drop in purchasing power pushing people to famine.

According to the survey, the average Pakistani household is compelled to spend only 50.8 percent of their monthly income on food, while 36.9 percent lack food security.

According to the research, 20.5 percent of Pakistan’s population is facing acute food shortages, and 18 percent of children under the age of five are malnourished.

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