Global Warming and Heatwaves Expected to Drive Up Food Prices and Inflation
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Global warming and heatwaves are predicted to increase food prices and overall inflation worldwide, according to a study conducted by the Potsdam Institute for Climate Impact Research (PIK) and the European Central Bank . The researchers analyzed historical price and weather data from 121 countries between 1996 and 2021. They found that rising temperatures due to climate change are projected to drive up the cost of food worldwide between 1.49 and 1.79 percentage points every year by 2035. This impact will be most strongly felt in regions that are already hotter, particularly in poorer and developing parts of the world. Africa and South America are expected to be the continents most affected by the increase in food prices and inflation. The study also revealed that a major heatwave in Europ...
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