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Reuters
Reuters
Business
By Marc Jones

Cost-of-living crisis driving 'breathtaking' surge in extreme poverty - UNDP

A boy plays with balloons by Buriganga river as smoke emits from a dump yard during sunset in Dhaka January 19, 2013. REUTERS/Andrew Biraj/Files

The global cost-of-living crisis is pushing an additional 71 million people in the world's poorest countries into extreme poverty, a new report published by the U.N. Development Programme (UNDP) on Thursday has warned.

Achim Steiner, UNDP administrator, said an analysis of 159 developing countries showed that the surge in key commodity prices this year was already slamming parts of Sub-Saharan Africa, the Balkans, Asia and elsewhere.

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