From Pakistan to Peru, soaring food and fuel prices are tipping countries over the edge

Food prices are soaring again in many countries.

They had already reached their highest level on record earlier this year as the pandemic, poor weather and the climate crisis upended agriculture and threatened food security for millions of people.

CNN reports Russia's war in Ukraine made the situation much worse while also triggering a spike in the cost of the other daily essential, fuel.

In Sri Lanka, protests have erupted over shortages of gas and other basic goods.

Double-digit inflation in Pakistan has eroded support for Prime Minister Imran Khan, forcing him from office.

At least six people have died in recent anti-government protests in Peru sparked by rising fuel prices.

Global oil prices are almost 60% higher than they were a year ago.

The cost of coal and natural gas has also spiked.

Many governments are struggling to protect their citizens, but fragile economies that borrowed heavily to make it through the 2008 financial crisis and the pandemic are most vulnerable.

CNN further reports that according to the World Bank, close to 60% of the poorest countries were already in debt distress or at high risk of it on the eve of the invasion of Ukraine.

Source: CNN