Inflation is worst for people in extreme poverty

You’ve likely been impacted by the cost of living crisis: U.S. gas prices spiked this summer and energy prices are still at all-time highs across Europe. While overall inflation in high-income countries is at 6%, in low-income countries it’s at 9%. Consumers in wealthy countries can often switch from higher-quality goods to lower-quality ones, an option not possible for recipients like Josphat.

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