Food policy monitoring in the Near East and North Africa region. 4th Quarter 2023 | Bulletin
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Global food prices have continued to drop at a slower pace in recent months; however, they are still well above the price levels observed in 2020. Commodity prices are set to fall gradually in 2024 and stabilize in 2025. However, conflict-driven oil supply disruptions create a significant upside risk for price forecasts. The food consumer price index is currently the highest in the Near East and North Africa among all world regions, with Lebanon, Egypt and the Syrian Arab Republic experiencing the highest food price inflation. However, in most countries of the region, food prices show a steady or decreasing trend.