Global Food Security Index 2021: Food in Pakistan More Affordable Than India, Bangladesh, Nepal

[RiazHaq]

Global Food Security Index 2021: Food in Pakistan More Affordable Than India, Bangladesh, Nepal

Food is more affordable in Pakistan than in Bangladesh and India, according to the Global Food Security Index 2021. Earlier in 2021, Global ...

www.southasiainvestor.com

Food is more affordable in Pakistan than in Bangladesh and India, according to the Global Food Security Index 2021. Earlier in 2021, Global Hunger Index report also ranked Pakistan better than India. Numbeo Grocery Index reports that the food prices in Pakistan are the second cheapest in the world.

Global Food Security Index 2021. Source: Economist

Global Food Security:

Pakistan (with 52.6 points) has scored better than Bangladesh (48.8), Nepal (48.3) and India (50.2 points) in terms of food affordability. Sri Lanka scored higher with 62.9 points in this category on the GFS Index 2021, according to a global report released by Economist Impact and Corteva Agrisciencerecently.

Ireland, Australia, the UK, Finland, Switzerland, the Netherlands, Canada, Japan, France and the US shared the top rank with the overall GFS scores in the range of 77.8 and 80 points on the index.

In overall food security, Pakistan ranked 75th with a score of 54.7, ahead of Sri Lanka (77), Nepal (79) and Bangladesh (84), but behind India ranked 71st with a score of 57.2 points on the GFS Index 2021 ranking 113 countries.

Pakistan improved its GFS score by 9 points (to 54.7 in 2021 from 45.7 in 2012) while India’s score improved only by 2.7 points to 57.2 in 2021 from 54.5 in 2012. Nepal improved by 7 points (to 53.7 points in 2021 from 46.7 points in 2012) and Bangladesh by 4.7 points (to 49.1 in 2021 from 44.4 points in 2012). China’s score improved by 9.6 points to 71.3 in 2021 from 61.7 in 2012, the report said. “The GFSI looks beyond hunger to identify the underlying factors affecting food insecurity around the world,” said Tim Glenn, Executive Vice-President and Chief Commercial Officer, Corteva Agriscience.

The cost of living in Pakistan is the world's lowest despite recent inflationary trends, according to the Cost of Living Index for mid-2021 as published by Numbeo. Numbeo Grocery Index reports that the food prices in Pakistan are the second cheapest in the world.

Global Hunger Index:

Global Hunger Index 2021 report has ranked Pakistan 92nd, ahead of India ranked 101st among 116 countries. Pakistan's other South Asian neighbors are ranked better: Nepal (76), Bangladesh (76), Myanmar (71).

Hunger Trends in South Asia. Source: Global Hunger Index

Pakistan has been reducing hunger at a faster rate than India but slower than other South Asian neighbors like Bangladesh and Nepal.

COVID-Induced Inflation:

Global supply-chain disruptions and economic recovery from COVID19 pandemic have driven up prices of all commodities, including food and fuel, worldwide.



Summary:

Food and fuel prices in Pakistan are among the lowest in the world. However, everyone is feeling the pinch of rising global prices. It is particularly painful for people in developing countries like Pakistan. These prices are beyond the control of any one national government. What governments like Pakistan can and should do is to protect the poorest and most vulnerable people in their countries. Prime Minister Imran Khan's plan to deliver targeted food subsidies worth $700 million should help reduce the pain. This $700 million package is in addition to more than a billion dollars distributed under the Ehsaas program.

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Global Food Security Index 2021: Food in Pakistan More Affordable Than India, Bangladesh, Nepal

Food is more affordable in Pakistan than in Bangladesh and India, according to the Global Food Security Index 2021. Earlier in 2021, Global ...

www.southasiainvestor.com

 

[RiazHaq]

Pakistan's minimum monthly wage of US$491 in terms of purchasing power parity is among the highest in developing nations in Asia Pacific, including Bangladesh, India, China and Vietnam, according to the International Labor Organization.

Global Food Security Index 2021: Food in Pakistan More Affordable Than India, Bangladesh, Nepal

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www.riazhaq.com

 

[nahtanbob]

why make food affordable ? the poor will breed more kids

@RiazHaq

 

[RiazHaq]

#US #inflation hits 30-year high of 6.2%. Higher #food and #energy prices—driven up by #COVID19 #pandemic-related production problems as well as by weather and geopolitical factors—are also adding to the upward pressure on inflation. https://www.wsj.com/articles/us-inf...kwij9rc2aktau&reflink=desktopwebshare_twitter via @WSJ

U.S. inflation hit a three-decade high in October—rising at a 6.2% annual rate—as pandemic-related supply shortages and continued strength in consumer demand continued to push up prices.

The Labor Department said the consumer-price index, which measures what consumers pay for goods and services, increased at the fastest annual pace since 1990. Inflation also topped 5% for the fifth straight month.

The so-called core price index, which excludes the often-volatile categories of food and energy, in October climbed 4.6% from a year earlier, higher than September’s 4% rise and the largest increase since 1991.

On a monthly basis, the CPI increased a seasonally adjusted 0.9% in October from the prior month, a sharp acceleration from September’s 0.4% rise, and the same as June’s 0.9% pace.

Price increases were broad-based in October, with higher costs for new and used autos, energy, furniture, rent and medical care, the Labor Department said. Prices fell for airline fares and alcohol.

Laura Rosner-Warburton, senior economist at MacroPolicy Perspectives, thinks the U.S. is entering a six-month period of unusually high inflation.

“I do think we’re moving into a new phase where inflation is broader and where things are going to get a little more intense,” she said. “Part of that reflects that [supply-chain] bottlenecks are not resolved going into the holiday season, when a lot of purchases get made, and that the economy is doing really well, so you have strong demand.”

Ms. Rosner-Warburton sees a shift under way in which a wider range of factors will push up inflation, as opposed to the previous months’ increases, which were driven disproportionately by skyrocketing vehicle prices and the reopening of services after Covid-19 vaccines became available. “Part of [this] still seems likely to be transitory, but maybe not all of it,” she said.

Federal Reserve officials are closely watching inflation measures to gauge whether the recent jump in prices will be temporary or lasting. One such factor is consumer expectations of future inflation, which can prove self-fulfilling as households are more likely to demand higher wages and accept higher prices in anticipation of higher future price growth.

Consumers’ median inflation expectation for three years from now stayed at 4.2% in October, the same as in September, according to a survey by the New York Fed. That level is the highest since the survey began in 2013.

Unusually high demand—boosted by a long stretch of government stimulus and an improving job market—is a crucial factor driving higher inflation.

Consumer spending increased at an annual rate of 1.6% in the third quarter, a sharp slowdown from a 12% increase in the prior quarter. However, much of that deceleration was due to scarcity of new cars and other durable goods. Consumer spending on services last quarter climbed at the brisk annual rate of 7.9%.

Covid-19 continues to be a wild-card factor. The outbreak of the Delta variant put downward pressure at the end of the summer on prices for travel, recreation and other services that involve close interaction. Spending on services has bounced back in recent weeks as coronavirus infections fell, which could put further upward pressure on prices.

 

[Crimson Blue]

Don't you know that you are supposed to only report negative stuff about Pakistan in this section?

....... and even if there is something is better is Pakistan as compared to neighbors, it must be due to a freak coincidence of circumstances.

 

[Novus ordu seclorum]

why make food affordable ? the poor will breed more kids

@RiazHaq

Prejudice and contempt. It doesn't work that way.
Yahoo! Finance: 10 Billionaires Like Oprah Winfrey Who Grew Up Poor
January 30, 2021

 

[nahtanbob]

Prejudice and contempt. It doesn't work that way.
Yahoo! Finance: 10 Billionaires Like Oprah Winfrey Who Grew Up Poor
January 30, 2021

What is the odds ?

 

[Hakikat ve Hikmet]

40% of BD folks have gone back to below poverty level, which was the rate in 2000, due to COVID….