tags - Sinar Daily

The world is facing a cost-of-living crisis unseen in at least a generation, partly due to the Ukraine conflict, said a UN report. - Illustration photo

Ukraine was a major exporter of wheat, corn and sunflower oil, but shipments have been blocked since Russia invaded its neighbour in late February, causing food prices to soar worldwide. - AFP pic

Charles Santiago (left) and Datuk Dr Khairuddin Aman Razali

Patricia Espinosa addresses the Press Briefing (Embargoed until 30 May, 3pm EDT) on the Report of the High-level Panel on the Post-2015 Development Agenda. (Source: UN Photos)

A view of the city of Mariupol on June 2, 2022, amid the ongoing Russian military action in Ukraine. - AFP

S&P Global report says the situation is worsened by Russia’s invasion of Ukraine causing fertiliser shortages, export controls, global trade disruption, and escalating fuel and transport costs behind rising prices.

People cross a destroyed bridge as they evacuate the city of Irpin, northwest of Kyiv, during heavy shelling and bombing, 10 days after Russia launched a military invasion on Ukraine, on March 5, 2022. - AFP

Paying more for food and basic necessities has translated to higher household spending and dwindling savings.

Illustration photo.