Posted 3/21/2024, 7:42:16 PM
New Study Links Climate Change to Higher Food and Overall Inflation
- New study links temperature increases from climate change to higher food and overall inflation
- Estimates food prices to rise 1.5-1.8 percentage points annually and overall inflation 0.8-0.9 points by 2035
- Climate shocks like heatwaves reduce agricultural productivity, pushing up food prices
- Study looked at 20,000 data points to find causal link between extreme weather and rising prices
- Developing countries may be hit harder than Europe and North America