WASHINGTON, DC, US — Food price inflation continues to be a concern as agriculture and cereal prices inch higher, according to the April 29 food security update by the World Bank.

Agriculture and cereal price indices were 1% higher since the last update on April 11. Cereals, corn and wheat prices were 2% higher while rice was 1% lower.

On a year-on-year basis, corn prices were 34% lower and wheat prices were 17% lower while rice prices were 24% higher.

Prices were higher compared with 2020, with corn up 15%, wheat up 3% and rice up 47%.

Food price inflation is higher than 5% in 57% of low-income countries, 64% of lower-middle-income countries, 33% of upper-middle-income countries and 13% of high-income countries.

In real terms, food price inflation exceeded overall inflation in nearly 49% of the 166 countries for which food CPI and overall CPI indexes are both available, the World Bank said.

Acute hunger remains persistently high in 59 countries, with 1 in 5 people in need of urgent assistance, the World Bank said. Nearly 282 million people in 59 countries and territories experienced high levels of acute hunger in 2023, an increase of 24 million from the previous year.

This rise was due to the report’s increased coverage of food crisis contexts as well as a sharp deterioration in food security, especially in the Gaza Strip and the Sudan, the World Bank said.