Regardless of all other factors, higher global temperatures alone will cause an increase in the price of food in the range of 0.9% to 3.2% per year, a price that will add between 0.3% and 1.2% per annum to inflation, according to a study by Maximilian Kotz from the Potsdam Institute for Climate Impact Research, done in collaboration with the European Central Bank (“Food Is Costing More Due to Climate Change—Prices Will Keep Rising”, New Scientist, March 30, 2024).