In Bangladesh, 71% of households express concern over rising food prices, as reported in the World Bank’s ‘food security’ report. The country falls into the second-highest category for food inflation globally. Approximately 2.91 million households, out of a total of 4.1 million, are affected by the increase in food prices.
The World Bank categorizes countries based on food inflation rates, and Bangladesh’s inflation rate surpasses that of neighboring nations like India, Sri Lanka, Afghanistan, Bhutan, and Nepal. The report highlights a 1.4% decrease in food grain imports in 2023 compared to 2022, along with a 20% decline in non-grain food product imports.
The government’s efforts include emergency stockpiling, with 1.85 lakh tons of emergency food grains in December 2023. The report underscores the challenge of food security, emphasizing the risk of increased poverty if food inflation persists. Consumer rights organizations attribute the inflation to global factors, such as the Russia-Ukraine war, impacting the value of the US dollar.
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