Unveiling 'Climateflation': Study Reveals Global Economic Impacts of Climate Change
Andrew Freedman's latest report for Axios delves into a groundbreaking study shedding light on the emergence of "climateflation," a term coined to describe the unsettling correlation between human-caused climate change and escalating inflation rates worldwide. Published in Communications: Earth and Environment, the study's significance extends beyond typical climate discourse, emphasizing how climate-induced disruptions are permeating entire economies. By dissecting over 27,000 monthly price indices across 121 countries, researchers pinpoint how soaring global temperatures and intensified heat waves are driving up prices of essential goods. Projections paint a grim picture, with food inflation potentially skyrocketing by 3 percentage points annually by 2035, alongside overall inflation surges ranging from 0.3 to 1.2 percentage points per year. Particularly alarming are the implications for already-warmer regions, forecasted to bear the brunt of these economic repercussions.
SOURCE: Click here to explore the full article by Andrew Freedman for Axios.
