Cacao Catastrophe: Climate Change Fuels Inflation in The U.S. and Globally

Douglas McIntyre, editor-in-chief of Climate Change 24/7, highlights a new research paper linking climate change to inflation in the U.S that attributes rising food prices — such as the doubling costs of coffee and cocoa — to climate-induced droughts and floods disrupting supply chains. Since food is a significant portion of consumer spending, the paper argues that global warming change plays a direct role in driving inflation and increasing the cost of living.