This is what climate warming could do to food prices
Maximilian Kutz, co-author of the study, explained to Agence France-Presse that by comparing historical prices and weather data from 121 countries between 1991 and 2020: “We found strong evidence that high temperatures, especially in summer and in hot regions, cause increases in the prices of materials.” “Food.”
Researchers from the University of Potsdam and the European Central Bank extrapolated this data based on expected future climate conditions between 2035 and 2060.
According to Kutz, these expected conditions “are likely to lead to increases in food price inflation and overall inflation around the world, especially in already warmer regions, such as the Southern Hemisphere.”
Africa and South America will be the two continents most affected, while Kotz pointed out that Rising temperatures in the Northern Hemisphere will lead to higher prices, “especially in the summer.”
The researchers did not find a significant impact of warming on other components of household expenditures, with the exception of electricity prices, which Kotz explained by saying: “This is completely consistent with studies that show that agriculture is particularly sensitive to climate impacts.”
The study’s authors focused more specifically on the impact of a heat wave in Europe in the summer of 2022, which likely caused food price inflation to rise by 0.67 percentage points, with a greater impact in southern Europe.
The study confirms that “climate change will increase the scale of these extreme weather events, and thus their potential impact on inflation.” (Sky News Arabia)
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