The June 2022 standard reference food basket has increased by 36 percent since the beginning of the crisis in Ukraine, up 45 percent since January 2022, and nearly double compared to June 2021, reaching SYP 318,726 (USD 113.26 at the official exchange rate of SYP 2,814/USD).
FAO Food Price Index continued to decrease for the third consecutive month. It averaged 154.2 points in June 2022, down 3.7 points from May 2022 though still 23.1 percent above its value a year ago. The decrease is largely on account of reduced prices for vegetable oil, cereals and sugar.
The Minimum Expenditure Basket decreased by six percent m-o-m, largely driven by decreases in nominal prices of animal protein, fruits and tubers. However, the June 2022 MEB remains 19 percent higher than at the beginning of the crisis in Ukraine and 51 percent higher since September 2021.
The conflict in Ukraine continues to impact global economies through supply shocks to energy and food prices. The increased energy costs have raised shipping costs for maritime transport sectors, with the transportation of dry bulk goods increasing by 60 percent between February and May 2022.
The official exchange rate remained at SYP 2,814/USD since the April 2022 devaluation while the June 2022 informal exchange rate stood at SYP 3,977/USD.
Source: World Food Programme