In July, the bank said that it expects inflation to ease to 3.6 percent this year -- from 4.4 percent in 2022 -- as food and fuel prices softened.
Developing Asia refers to the multilateral lender’s 46 emerging member economies, stretching from Kazakhstan in Central Asia to the Cook Islands in the Pacific.
Poor people have been hurt the most by higher inflation as they are less able to pay higher prices for necessities, leaving many unable to save money, pay for healthcare or invest in education, the report said.The ADB estimated that the pandemic pushed 75-80 million more people into extreme poverty in 2020, compared to its pre-pandemic projections.
In July, the bank said that it expects inflation to ease to 3.6 percent this year — from 4.4 percent in 2022 — as food and fuel prices softened. While developing Asian economies should continue to make progress against poverty, an estimated 1.26 billion people, or about 30 percent of the region’s projected population by 2030, will still be considered “economically vulnerable”, it said.Read more on these topics
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