Rising food & fuel prices hitting poorest the hardest, warns UNCTAD
UNITED NATIONS, Jul 20 (APP): Billions of people are facing the greatest cost of living crisis in a generation due to rising food and energy prices amid rapid inflation and increasing debt, leaving the most vulnerable consumers in a dire situation, according to the UN trade and development body, UNCTAD.
UNCTAD’s analysis shows that a 10 per cent increase in food prices will trigger a five per cent decrease in the incomes of the poorest families, roughly equivalent to the amount those families would normally spend on healthcare.