How climate change is raising the cost of food
CBSN
Agricultural experts have long predicted that climate change would exacerbate world hunger, as shifting precipitation patterns and increasing temperatures make many areas of the world unsuitable for crops. Now, new research suggests a warming planet is already increasing the price of food and could sharply drive up inflation in the years to come.
A working paper by researchers at the European Central Bank and the Potsdam Institute for Climate Impact Research analyzed historic price fluctuations along with climate data to figure out how that has affected inflation in the past, and what those effects mean for a warming world.
The upshot: Climate change has already pushed up food prices and inflation over all, the researchers found. Looking ahead, meanwhile, continued global warming is projected to increase food prices between 0.6 and 3.2 percentage points by 2060, according to the report.
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