Inflation reached record highs in most countries, the ADP report revealed. Photo: File
Manila: The Asian Development Bank says that inflation has pushed another 70 million people into extreme poverty.
According to the bank report, according to last year’s data, about 155.2 million people in the developing countries of Asia and the Pacific, i.e. 3.9% of the population of the region, are living in extreme poverty.
Also read: Majority of Pakistanis are forced to live below the poverty line
Albert Park, Chief Economist of the Asian Development Bank, says that countries in Asia and the Pacific are slowly recovering from Corona, but inflation has seriously affected progress in efforts to end poverty.
According to 2017 data, extreme poverty is defined as living on less than $2.15 a day. In most countries, inflation reached multi-year highs last year, affecting almost everyone. It happened, but the poor have been hit the hardest.
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