Rising food prices push 44 million people into poverty

“Whenever food prices rise, unfortunately it’s the people who live on the margins of society who are the most affected,” says Hassan Zaman, a lead economist at the World Bank.

Rising food prices have driven an estimated 44 million people into poverty since last June – forcing them to buy food that is both less expensive and less nutritious.

According to numbers released in the World Bank’s latest edition of Food Price Watch, global wheat prices have doubled since June 2010 while the prices of maize, sugar and edible oils have also sharply increased.

“During a time of shrinking budgets and a tightening fiscal situation in many industrialized countries, countries may be tempted to reduce their foreign aid budget,” says Zaman. “This would be a real disaster for any poor people living on the margins who depend on external assistance.”

Listen to Hassan Zaman’s full interview with Kelsea Brennan-Wessels: