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Drought in Germany and Europe are driving up costs

Ongoing drought in Europe is causing rivers to dry up and crops to fail. Transport costs are rising and the price of food has exploded. Is inflation due to extreme weather?

  • Prolonged drought in Germany and Europe driving up costs
  • 30% surge in food prices since 2020, with meat and oilseeds most affected
  • ECB warns climate-induced food price volatility could strain inflation control efforts

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