will the climate set prices on fire in the years to come?

2024-03-24 12:30:24

The impact of climate on the food economy

A study published in Communications Earth and Environment sounds the alarm: global warming will lead to a marked increase in food prices globally, particularly in countries in the South. Maximilian Kotz, one of the authors of this research, specifies that increases in temperature, especially in summer, in already hot regions, exert upward pressure on food prices. Indeed, the study, based on the analysis of climate and price data from 121 countries between 1991 and 2020, announces average food inflation of 1.49 to 1.79 percentage points per year, depending on the scenarios considered for 2035.

Unequal but global consequences

The study authors emphasize that global warming does not significantly affect other components of household spending, with the notable exception of electricity costs. This observation aligns with previous findings that agriculture remains particularly vulnerable to climate variations. The impacts will not be limited to a specific region but will be felt on a global scale, disproportionately affecting the southern hemisphere, notably Africa and South America.

A revealing historical overview

The correlation between temperature rises and food inflation is not new. Lhe heatwave in Europe during the summer of 2022 led to a 0.67 percentage point increase in food inflation, further impacting the south of the continent. This situation heralds future challenges, where climate change is expected to intensify the frequency and scale of these extreme phenomena, thus exacerbating their impact on the food economy.

Towards an uncertain future regarding access to food

The revelation of these predictions raises legitimate concern about the ability of global power systems to adapt to these abrupt changes. The implications of this study are not limited to simply increasing prices; they also question food security, resource management and the need to innovate in agricultural practices to mitigate the effects of global warming. The international community is thus faced with a major challenge, requiring collective action and adaptive strategies to preserve access to food for all, in a constantly changing climate context.


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