Charted: The Countries With the Highest Food Inflation in 2024

Charted: The Countries With the Highest Food Inflation

Rising food inflation impacts global food security and disproportionately affects vulnerable populations.

But from South America to Africa and the Middle East, which countries are the hardest hit by increasing food prices in 2024?

This bar chart, sponsored by Brazil Potash, uses the latest data from Trading Economics to show which countries have the highest food inflation.

Food Inflation Trends by Country and Region

Leading all countries, Argentina is grappling with a 183% year-over-year increase in food prices. The country also has the highest forecasted food inflation in the world, at 120%, for next year’s second quarter.

Argentina’s high food inflation stems from a mix of its currency devaluation, severe droughts, reliance on exports, economic instability, and political unrest.

Palestine is the runner-up for the highest food inflation with 115%. However, it is forecasted to lower dramatically to 12% halfway through 2025.

Meanwhile, six of the next eight countries are all in Africa. The African countries with the highest food inflation are Zimbabwe at 105% and South Sudan at 96%.

At the same time, other African nations, like Malawi, Nigeria, and Angola, face rates between 34% and 44%, highlighting the broader food inflation trend across the continent.

A Solution in Potash

The data shows a disproportionate burden carried by developing economies, where food expenditures constitute a larger share of household budgets.

Solutions may require substantial investments in innovations like crop-enhancing potash to boost yields and stabilize prices.

Learn how you can get involved in solving global food insecurity and cultivate returns in your investment portfolio.

** IMPORTANT NOTICE AND DISCLAIMER — PLEASE READ CAREFULLY! **

INVESTMENTS IN PRE-REVENUE COMPANIES SUCH AS BRAZIL POTASH CORP. ARE HIGH RISK INVESTMENTS. YOU ARE URGED TO READ THE BRAZIL POTASH PROSPECTUS LINKED HERE AT SEC.GOV.

ISSUER-PAID ADVERTISEMENT.  BRAZIL POTASH CORP., or the “Company,” has or will pay Visual Capitalist (“Publisher”) in cash for marketing services, including advertisements.  This advertisement is part of those issuer-paid marketing services.  This compensation should be viewed as a major conflict with Publisher’s ability to be unbiased.

FORWARD LOOKING STATEMENTS. This publication contains forward-looking statements, including statements regarding expected continual growth of the featured company and/or industry. The Publisher notes that statements contained herein that look forward in time, which include everything other than historical information, involve risks and uncertainties that may affect the companies’ actual results of operations. Factors that could cause actual results to differ include, but are not limited to, government regulations concerning potash production, the size and growth of the market for potash, the companies’ ability to fund its capital requirements in the near term and long term, pricing pressures, etc.