Global Food Inflation at 6.7%, While Turkey’s Food Inflation Soars to 43.6%

According to data from the United Nations Food and Agriculture Organization (FAO), global food prices are expected to increase by 6.7% in 2024, while Turkey’s food inflation has reached a significantly higher 43.6%. The stark contrast between these figures has drawn attention.

The FAO’s Global Food Price Index, which tracks monthly changes in the international prices of food products, showed a 0.5% decline in December 2024, bringing the index to 127 points. For 2024, global food inflation is projected at 6.7%. The FAO also noted that the Food Price Index for 2024 ended about 2.1% lower than the levels seen in 2023, and global food prices remain 20.7% below the historic peak reached in March 2022 due to the Russia-Ukraine war.

Food Inflation in Turkey at 43.6%

In contrast, Turkey’s food inflation in 2024, as announced by the Turkish Statistical Institute (TÜİK), stands at 43.58%. In December, food inflation in Turkey was 1.29%. Additionally, according to Türk-İş’s December hunger and poverty report, the cost of food in Turkey increased by 2.06% on a monthly basis, with the annual food inflation rate reaching 46.09%.