(Click left or right arrow to see more)

Over 71 million people are experiencing poverty globally as the Ukraine crisis continues to push up food and energy prices, the United Nations Development Programme (UNDP) has warned in a new report.

In comparison, UNDP reported that 125 million people experienced poverty over about 18 months during the pandemic's lockdowns and closures.

The report estimated that 51.6 million more people fell into poverty, living on $1.90 a day or less, and an additional 20 million people dropped to the poverty line of $3.20 a day in the first three months after Russia's special military operation in Ukraine.

Both Russia and Ukraine are large food suppliers in the global market, together accounting for almost a quarter of global wheat exports, 14 percent of corn exports, and over half of sunflower oil exports. Russia was also the world's largest and second-biggest exporter of natural gas and crude oil.

In low-income countries, food spending usually accounts for 42 percent of families' household incomes. As Western nations put sanctions on Russia, people have seen price of fuel and staple food items like wheat, sugar, and cooking oil soaring.

For more, check out our exclusive content on CGTN Now and subscribe to our weekly newsletter, The China Report.