Russia's war against Ukraine caused a significant increase in energy and food prices. The scale of price increases could push more than 40 million people around the world into extreme poverty, the Center for Global Development estimates..

“The price increase that we are seeing today is already as strong as the price increase in 2010. Our analysis shows that at least 40 million people will be pushed into extreme poverty by rising prices in 2022..

According to analysts' forecasts, importers of Russian and Ukrainian wheat, including Egypt, Indonesia, Bangladesh, Pakistan, Azerbaijan, Turkey, may suffer the most..

Prices are expected to rise around the world as importers compete for alternative sources of supply..

The Center for Global Development also added that households in low-income countries spend almost half of their budget on food.. Rising food prices will leave them with a difficult choice between food and other essentials..

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Earlier, the UN Food and Agriculture Organization reported that the war in Ukraine could lead to an increase in food prices in the world - by 20%.