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British households' food bills have been driven up by more than £600 over the past two years by the global climate emergency and soaring energy prices, according to a report warning of further increases to come in 2024.
Article originally published by The Guardian. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.
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27 Nov 2023
Sounding the alarm over the impact from increasing extreme weather patterns for food production, the Energy and Climate Intelligence Unit (ECIU) thinktank said that global heating was directly contributing to the cost of living crisis.
According to the analysis carried out by researchers from the universities of Bournemouth, Exeter and Sheffield, more extreme or unseasonal weather accounted for one-third of all food price inflation in the UK this year.
Combined with the impact of soaring energy prices – after Russia’s invasion of Ukraine drove up gas, energy and fertiliser prices – it said British households had been hit by £605 in additional food costs in 2022 and 2023. While energy prices have fallen back this year, it warned that the impact from the climate emergency was increasing.
Tom Lancaster, land analyst at ECIU,
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