Climate shocks threaten a lasting rise in food inflation
Research cited by the Financial Times estimates that climate-related shocks could add between 0.9 and 3.2 percentage points to annual global food inflation by 2035. The report argues that the end of reliably cheap food would affect household budgets and the wider economy well beyond the grocery aisle.
Why it matters
Persistently higher food prices would squeeze real incomes and complicate central banks’ inflation targets.
Sources
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Part of the August 29, 2026 brief.