‘Climateflation’ could push up UK food prices by more than a third by 2050, report says

Exclusive: Increasingly extreme weather a threat to production and supply chains in Britain and elsewhere

Britain is at risk of a worsening “climateflation” crisis amid the fallout from increasingly extreme weather that could drive up food prices by more than a third by 2050.

Sounding the alarm over the financial impact for UK households, the Autonomy Institute thinktank said that climate-induced price increases for everyday food items risked pushing almost 1 million people into poverty without urgent government intervention.

It said the UK was at elevated risk – particularly from heatwaves and droughts – of food production and supply chains abroad and at home being disrupted, which would have a knock-on impact for consumers through higher prices in the shops.

Official figures earlier this month showed the UK’s headline inflation rate rose by more than expected to 3.6% in June, as fuel and food prices added to the pressure on households.