Cost of living crisis hits 2 billion South Asians amid Middle East wars

A United Nations report released this week warns that roughly 2 billion people – one quarter of the global population – are now confronting a sharp rise in living costs directly linked to the ongoing conflicts in the Middle East. The analysis attributes the surge to disruptions in oil and gas supplies, heightened freight rates, and constrained agricultural exports from the region, all of which have pushed global energy and food prices to multi‑year highs.

The report details that the price hikes have disproportionately affected low‑ and middle‑income households in Africa, South Asia and Latin America, where a larger share of income is spent on basic commodities. World Bank data show that food inflation has climbed above 15 percent in several vulnerable economies, while the International Monetary Fund projects a 4‑point increase in global consumer price indices for the current year. Aid agencies have called for coordinated policy measures, including targeted subsidies and debt relief, to mitigate the impact and prevent a deeper plunge into poverty as the wars continue to destabilise supply chains.