Attachments
Highlights
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The standard reference food basket has increased by 33 percent since the beginning of the crisis in Ukraine, up 87 percent compared to same time last year, reaching SYP 313,784 (USD 111.51 at the official exchange rate of SYP 2,814/USD).
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FAO Food Price Index continued to decrease for the fourth consecutive month. It averaged 140.9 points in July 2022, down 8.6 percent from June 2022 though still 13.1 percent above its value a year ago. The decline is led by reduced prices for vegetable oils and cereals.
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The Minimum Expenditure Basket marginally decreased by two percent mo-m, largely driven by decreases in nominal prices of edible oils, vegetables and fruits. However, the July 2022 MEB remained 16 percent higher than at the beginning of the crisis in Ukraine and 46 percent higher since September 2021.
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July 2022 marks six months since the onset of the Ukrainian crisis, and although food prices were already on an upward trajectory, the conflict has exacerbated the trend. The UN backed deal to resume grain and oil exports seem to have cooled the market.
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The official exchange rate remained at SYP 2,814/USD since the April 2022 devaluation while the July 2022 informal exchange rate stood at SYP 4,032/USD.
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For further information, please contact:
Jules.Rugwiro@wfp.org or Benjamin.Banda@wfp.org or Moammar.Alhosaeen@wfp.org