If the U.S. wants to fully tackle inflation, it needs to tackle climate change
hat’s behind the most significant inflation in decades? Read most news articles and you’ll hear a variation on a standard answer: a combination of supply chain challenges caused by the quick ramp up of the economy after COVID-19 lockdowns and substantial spending driven by consumers who saved up—and collected money from the government—while businesses were closed.
There’s no question that these two interrelated factors are driving prices higher, but beneath the headlines economists say that extreme weather events tied to climate change are also contributing to inflation. Across the world, climate-linked disasters have killed crops, disrupted energy supplies, and crippled transportation lines. Economists say that this reality will only worsen as the planet warms.
But the link between climate change and inflation doesn’t stop there. The trillions of dollars the public and private sectors need to spend to transition the world away from fossil fuels, not to mention regulations designed to increase the costs of carbon-intensive goods, are bound to shape the course of future inflation, and a debate has emerged about what the effects will be.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Explained: What Rishi Sunak Has Announced To Tackle The Cost Of Living CrisisThe Chancellor said his plan was 'fair, targeted and proportionate'.
Read more »
LIVE: Rishi Sunak delivers update on measures to help tackle soaring energy billsRishi Sunak announced a £9bn help package, including a £200 energy rebate for every British household in October, funded by £5.5bn of loans and repaid by hig...
Read more »
Brits could get £200 rebate on energy bills 'to tackle cost of living crisis'MILLIONS of Brits could get a rebate on their energy bills worth hundreds of pounds under fresh plans to tackle the cost of living crisis. Ministers are looking at proposals for the Government to u…
Read more »
Brits could get £200 rebate on energy bills 'to tackle cost of living crisis'MILLIONS of Brits could get a rebate on their energy bills worth hundreds of pounds under fresh plans to tackle the cost of living crisis. Ministers are looking at proposals for the Government to u…
Read more »
Toxic air pollution surrounds every hospital and medical centre in LondonLondon Mayor Sadiq Khan said the new findings are 'unacceptable' and called for urgent action to tackle the capital's air pollution.
Read more »