World Bank’s Warning – Food Prices Could Go Up 37%

The World Bank has warned that the world is facing a “human catastrophe” due to the food crisis that has arisen due to the Russian invasion of Ukraine. That is what the World Bank president David Malpass said in an interview for the BBC, as reported by Blic.

The record food price growth, he said, would push hundreds of millions of people into poverty if the crisis continued.

– The World Bank calculates there could be a "huge" 37% jump in food prices – the BBC reports.

This, as said, would affect the poor the most, who would “eat less and have less money for anything else such as schooling”.

– It's a human catastrophe, meaning nutrition goes down. But then it also becomes a political challenge for governments who can't do anything about it, they didn't cause it and they see the prices going up – Malpass said and added that it affected food of all kinds, oils, grains.

Instead of subsidizing the production or limiting the prices, Malpass suggest to countries to work on increasing their supplies of fertilizer and food, with targeted aid to the poorest people.

World Bank

DAvid Malpass

food price jump

crisis in Ukraine

subsidized production

limiting prices

increasing fertilizer supplies

targeted aid to the poorest

aid to the poor