At least 1.2 million more people in Bangladesh are at risk of falling into poverty as escalating conflict in the Middle East drives up the price of essential food items, according to a new analysis released by UNICEF on Thursday.
The report, titled “The Impact of the War in the Middle East on Children in Monetarily Poor Households,” warns that the rising cost of staples such as rice, lentils, cooking oil, vegetables, fish, and poultry is putting extreme pressure on families across the country.
On a global scale, the report draws on data from 167 countries to show how shipping disruptions including those linked to the closure of the Strait of Hormuz and broader economic shocks could push up to 23.4 million additional children into monetary poverty by the end of the year.
UNICEF Executive Director Catherine Russell stated that children far beyond the region are paying the price as rapidly rising costs make food and education unaffordable, potentially causing harm that lasts a lifetime.
The analysis examines two potential outcomes: an adverse scenario where a moderate economic shock affects 18.3 million more children, and a severe scenario projecting 23.4 million additional children in poverty if war and related disruptions continue.
Asia and Africa are expected to bear the brunt of this crisis, accounting for approximately 80 per cent of the total global increase due to high baseline poverty rates and vulnerability to external shocks.
The economic fallout is already being felt across several nations, such as Somalia, where fuel prices doubled within days of the escalation, and Ethiopia, where diesel prices have risen by 31 per cent, hindering aid delivery.
In Nigeria, even slight price increases are drastically reducing the purchasing power of low-income households that already spend most of their earnings on food and transport.
The report warns that these repercussions are reversing years of global progress and limiting access to healthcare, education, and protection services essential for children’s development.
UNICEF is calling on national governments and international financial institutions to safeguard funding for essential services and scale up social protection systems, including child-sensitive cash transfers.
The organisation also recommends expanding fiscal space through debt-service suspension or restructuring for countries where debt payments exceed spending on social services.
Russell cautioned that if the world fails to act swiftly, hard-earned development gains could unravel, putting the futures of millions of children at risk.
