Cost-of-Living Report

Addressing the Cost of Living Crisis Cover Photo

Addressing the Cost of Living Crisis in Vulnerable Countries

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Cost-of-Living Report

July 7, 2022

71 million people in the developing world have fallen into poverty in just three months as a direct consequence of global food and energy price surges. The impact on poverty rates is drastically faster than the shock of the COVID-19 pandemic.

UNDP's recommendation is that in response, targeted cash transfers be made to households. Cash transfers are more equitable and more cost-effective than blanket energy subsidies - but governments will need support from the multilateral system to make ends meet.