jordan pulse -

Food prices in Jordan rose by 1.5% by the end of last March, according to a monthly report by the World Bank, at a time when the Department of General Statistics announced that the consumer price index (inflation) for the first three months of the current year increased by 1.72% compared to the same period last year. 2023.

According to a World Bank report seen by the Kingdom, food prices in Jordan continued to rise for the ninth month in a row, after rising by 1.8% in February, 3% in January, 2.2% in December, and 0.8%. % in November, 1.7% in October, 1.3% in September, 0.6% last July, and 1.2% last August.



According to the Department of General Statistics, the general consumer price index for the month of March reached 110.61, compared to 108.83 for the same month in 2023, and the index for the month of March 2024 reached 110.61, compared to 110.02 for the previous month of the same year.

At the cumulative level, the index for the first three months of 2024 amounted to 110.12, compared to 108.26 for the same period in 2023.

The General Statistics Department monitored an increase in inflation last March by 1.63% compared to the corresponding month of 2023, and a slight increase of 0.53. % (less than one percentage point) compared to the previous month of February.

The World Bank expected in its economic outlook report that the inflation rate in Jordan would reach 2% for the current year and that it would rise over the next two years to 2.1%.

He pointed out that the relative stability of prices of imported goods and weak core inflation are expected to keep inflation under control, despite some temporary impact caused by higher shipping costs due to disturbances in the Red Sea.



According to a new report by the International Monetary Fund, inflation in Jordan for the current year is expected to reach 2.7%, up from 2.2% last year, while it is likely to decline again to 2.4% in 2025.

The World Bank indicated in its report that inflation in Domestic food prices remain high, with inflation above 5% recorded in 57.1% of low-income countries (decrease of 2.9 percentage points since last updated on 28 March 2024), and 63.8% of lower-middle-income countries (none). change), 36% of lower-middle-income countries (no change), 36% of lower-middle-income countries (3.0 percentage points lower), and 21.8% of high-income countries (5.5 percentage points lower ).

In real terms, food price inflation exceeded overall inflation in 55.4% of the 166 countries for which data were available.

A previous report by the World Bank praised the efforts of the Ministry of Agriculture in enhancing food security, financing modern irrigation systems, amending the Agricultural Risk Management Fund to expand coverage and contributing to the establishment of water wells, dams, water facilities, and land basins to enhance the ability to adapt to climate change.



The bank explained that the Jordanian government aims to enhance national food security by establishing the first national seed bank, expanding food storage capabilities to 400,000 tons, and digitizing operations at the port of Aqaba, which enhances Jordan’s logistical and food security capabilities.