Soaring energy costs could impoverish millions

(CNN, KYMA/KECY) - Soaring energy costs could force 141 million people into extreme poverty.

That's according to a new report published in the journal "Nature Energy."

Researchers from the Netherlands, the UK, China and the U.S. looked at the impacts of increased energy prices in 116 countries.

They found, on average, household spending increased nearly five percent since Russia's war in Ukraine started.

According to the report, poor households in low-income countries were at greater risk of poverty.

Houses in higher income countries also faced rising energy prices, but they were more likely able to pay for it.

To reduce these impacts, many countries have provided subsidies, discounts, and price caps.

But the reports suggests countries can do more to reduce prices.