RBI: Climate Change Threatens India's Growth and Stability Through Hotter Weather, Higher Prices

• Climate change can increase inflation and stunt economic growth according to RBI • It can impact monetary policy by affecting agricultural production and supply chains, altering natural interest rates, and reducing effectiveness of policy • Frequent climate shocks pose risks of higher international and domestic food prices • Hotter weather in 2024 expected across India, per IMD report • RBI struggles with persistently high food inflation