‘climateflation’ Could Hike Uk Food Prices Over A Third By 2050, Report Finds

Supermarket aisle. Credit: non c/Shutterstock

UK nutrient ostentation is group to emergence by much than a 3rd wrong nan adjacent 25 years, driven by ‘climateflation’, a caller study from UK deliberation vessel The Autonomy Institute shows.

The study, titled ‘On nan Horizon: Climate‑Induced Inflation and nan Price of Food’ projects an impending ‘climateflation’ situation that could thrust nutrient prices up by 34% by 2050.

According to nan report, UK nutrient ostentation is tightly linked to worldwide proviso disruptions, arsenic expanding temperatures deed nutrient producers successful Europe and abroad.

The study noted that “heatwave-induced inflation” could put up to a cardinal (951,000) group into poorness without urgent authorities intervention.

According to nan Autonomy Institute, nan UK is peculiarly astatine consequence fixed it imports almost half of its food, making it limited connected world proviso chains.

Climate shocks successful cardinal export countries specified arsenic Spain, France and Brazil successful peculiar could origin disruption to imports and “further exacerbate inflation”, it said.

Agriculture connected home ungraded is besides deemed to beryllium astatine risk, arsenic utmost upwind events specified arsenic flooding and droughts impact crops for illustration wheat, barley and oilseed rape.

Reflecting connected nan study successful a abstracted statement, CEO of nan Autonomy Institute, Will Stronge said: “Without proactive intervention, rising heatwaves and droughts could thrust nutrient prices up by a 3rd by mid-century. Climateflation is nary longer a distant risk; it’s a coming reality.”

Stronge added: “We request to build existent economical resilience – and that intends rethinking what nationalist work proviso tin and should supply successful nan look of ambiance disruption: from transportation of basal essentials to publicly-funded diners and a nationalist buffer stock.”

In ray of its findings, nan Autonomy Institute group retired a number of argumentation recommendations, including that nan authorities introducing a nationalist buffer banal to stabilise prices during disruptions.

It besides called for value controls to beryllium brought successful connected basal foods to curb “greedflation” and for “Long-term investments successful regenerative and agroecological farming” successful bid “to build resilience successful nan home nutrient strategy and trim reliance connected imports”.

It has besides called for nan authorities to connection each UK family a ‘basket’ of nutrient essentials free of charge, among different recommendations.