A 300% increase in Australian lettuce prices and a 50% rise in European olive oil are linked to extreme weather caused by climate change. Researchers analyzed 16 unique weather events from 2022 to 2024, finding that many of these conditions had never occurred before 2020. The unforeseen weather patterns, including high temperatures and intense rainfall, adversely affect crop yields and lead to inflated food prices worldwide. In the UK, climate change added £361 to household food bills in 2022 and 2023. These ongoing price hikes complicate efforts to manage inflation.
Australian lettuce prices surged by 300%, European olive oil increased by 50%, and US vegetable prices rose by 80%, attributed to extreme weather linked to climate change. Researchers from the Barcelona Supercomputing Center found that 16 unprecedented weather events between 2022 and 2024 greatly impacted agricultural yields, significantly affecting food prices globally. The analysis indicates that extreme weather patterns are becoming more frequent, resulting in higher temperatures and extreme rains that will continue to challenge agriculture and economic systems.
British households experienced an additional food bill of £361 (around $484) during 2022 and 2023 as a direct impact of climate change. The rising costs of food are not just a local issue; around the world, consumers report feeling the financial pinch due to climate-related price hikes. This scenario poses complications for central bankers who are trying to control inflation while the costs of staples continue to escalate.
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