Nearly one year after Russia invaded Ukraine on Feb. 24, 2022, and caused widespread suffering, the global economy is still enduring the consequences.
also dropped draconian zero-COVID lockdowns late last year that hobbled growth in the second-largest economy.
Still, in ways big and small, the war is causing pain. In Europe, for example, natural gas prices are still three times what they were before Russia started massing troops on Ukraine's border. Punishingly high food prices are inflicting particular hardship on the poor. The war has disrupted wheat, barley and cooking oil from Ukraine and Russia, major global suppliers for Africa, the Middle East and parts of Asia where many struggle with food insecurity. Russia also was the top supplier of fertilizer.
The government urged Egyptians to try chicken feet and wings as an alternative source of protein — a suggestion met with scorn on social media but that also led to a spike in demand.In Nigeria, a top importer of Russian wheat, average food prices skyrocketed 37% last year. Bread prices have doubled in some places amid wheat shortages.
In Spain, the government is spending 300 million euros to help farmers acquire fertilizer, the price of which has doubled since the war in Ukraine.
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