News
Europe Faces Biggest Food Price Shock in G7 From Hotter World
A global food crunch due to extreme weather would boost prices more in the euro area than in Group of Seven economies, according to Oxford Economics.
A “severe” shock to food prices from climate events could raise food prices in countries sharing the currency by 1.6 percentage points a year, the economic adviser said in a report. That would translate into an increase in headline inflation of as much as 0.6 percentage point, economists Robert Marks and Ronan Hegarty said in the study published Thursday.