Poverty in the region rises to 33.7% due to war in Ukraine

The effects of war in Ukraineespecially the increase in energy and food prices, will increase poverty this year to 33.7% and extreme poverty to 14.9%, representing an increase of 1.6% and 1.1% respectively compared to 2021 , warned the Economic Commission for Latin America and the Caribbean (ECLAC).

The regional organization, based in Santiago de Chile, assured in its report “Consequences in Latin America and the Caribbean of the war in Ukraine: how to face this new crisis? that the conflict will add 7.8 million people to the 86.4 million already living in extreme poverty and food insecurity.

“These levels are notoriously higher than those observed before the pandemic and take away the possibility of a speedy recovery,” ECLAC said.

Inflation started to rise Latin America in mid-2021, mainly due to fiscal support during the pandemic and increased consumption, and the region closed at an average rate of 6.6%.

Last April, regional inflation shot up 8.1% and most central banks expect it to remain elevated for the rest of the year.

Source: El heraldo