Amid global inflation, Jordan’s food prices see 1% drop

AMMAN — Amid a global backdrop of soaring prices, food prices in Jordan have declined by 1 per cent as of the end of June, according to the latest food security update from the World Bank.

The World Bank revealed that “domestic food price inflation remains high around the world”. Price increases are not only prevalent in low- and middle-income countries, but also in high-income countries, the report said.

Jordanian food trader Khaled Al Hourani told The Jordan Times on Thursday that the state of global food insecurity and the various challenges that follow are “worrying”. However, the situation in Jordan is “relatively stable” and there have not been notable increases in food prices, Hourani said. 

Different countries around the world are experiencing severe food price inflation, he noted. However, Hourani warned that Jordan’s dependence on food imports might affect the prices of certain commodities later on.

According to the World Bank, food price inflation exceeded overall inflation in 80.1 per cent of the 166 countries surveyed, with 67 per cent of upper-middle-income countries experiencing double-digit inflation.

The prices of staple commodities are stable, but some non-food products have increased in price, Waleed Ali, the owner of a supermarket chain, told The Jordan Times. 

This eventually affects the public’s purchasing power, he added.

“Supermarkets are offering lots of deals in order to sell their food and non-food products…customers are only buying what is necessary. All of this is happening and we do not have price increases; I do not know what will happen if we do,” Ali said.