A study by environmental scientists and the European Central Bank, published in Communications, Earth and the Environment, found that food prices and overall inflation increase as temperatures rise due to climate change. Researchers calculated that within approximately 10 years, food prices will rise by 1.5-1.8% per year, with higher increases in already hot regions such as the Middle East. This means that overall inflation is expected to rise by 0.8-0.9% by 2035 as a result of worsening climate conditions. By 2060, climate change is projected to push global food prices up by 2.2-4.3% per year, leading to an overall inflation increase of 1.1-2.2%. While these figures may seem small, they are highly significant for central banks fighting inflation.
Source: Bangkok Business News
https://www.bangkokbiznews.com/environment/1160273
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