Brazil, a major exporter, is often portrayed as a beneficiary of rising commodity prices.
But in the shantytowns of Brazil’s major cities, where poverty frames daily life, people are focused on the exploding cost of liquefied petroleum gas, the cooking fuel used in 96 percent of homes.
Since February, the price of a canister of L.P. gas has increased nearly 10 percent, reaching its highest level in two decades, according to government data.
“It is the only thing we talk about,” said Vanderley de Melo Pereira, 55, a father of two in Rocinha, a teeming slum in Rio de Janeiro. “Since the war in Ukraine started, things have gotten worse.”
Across Latin America, the unfolding crisis threatens to erase decades of progress in boosting living standards.
“There are no prospects for growth,” said Liliana Rojas-Suarez, a regional expert and senior fellow at the Center for Global Development in Washington. “I think we’re going to have another lost decade.”
Ruth Maclean reported from Dakar, Senegal; Salman Masood from Islamabad, Pakistan; Elif Ince from Istanbul; Flávia Milhorance from Rio de Janeiro; Muktita Suhartono from West Java, Indonesia; and Brenda Kiven from Douala, Cameroon. Renato Dias in Rio de Janeiro contributed to this report.