Food price to increase due to global warming
Inflation in our everyday food prices has been a major concern across the globe. And over the years, we all have noticed a significant increase in the amount of our grocery bills. While global leaders and administrators are in talks regarding this raising concern, a new study found that the price will just increase every year for at least a decade. The news is appalling, right? Researchers at the Potsdam Institute for Climate Impact Research in Germany have found that climate change, and specifically rising temperatures, may cause food prices to increase by 3.2 percent per year. The findings were published in the journal Communications Earth and Environment.
What Is The Link Between Inflation In Food Price And Climate Change?
The researchers analyzed the inflation and weather data from 121 different countries between 1991 and 2020 to estimate how climate change will impact both food prices and inflation in general in the future. It was found that food prices are the monthly inflation signal, most strongly associated with climate change.
As per the study, while dry heat would play a part in rising food prices, the main culprit would be extreme weather events like excessive rainfall, with a long-lasting effect on the food supply.
Also Read: Climate Impact Due To Our Eating Habits
How Does Climate Change Will Affect Global Food Prices?
The study, based on the data analysis, found that countries closer to the equator would face the highest impact of food price inflation, due to the rising temperatures. However, the researchers also noted that all countries would be affected in some way or the other. It was also found that there will be a food price inflation between 0.9 and 3.2 percentage points per year by 2035. "So, a greater proportion of household income would need to be spent on buying food," the study read.