KDI Economic Outlook 2024-1st Half Weather Condition Changes on Prices: Effects and Implications May 09, 2024
KDI Economic Outlook 2024-1st Half
Weather Condition Changes on Prices: Effects and Implications
May 09, 2024
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Seunghee Lee
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- Summary
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■ Weather shocks raise consumer prices in the short term, primarily affecting f바카라6매sh food prices. However, their impact on co바카라6매 prices appears marginal.
- Among various types of weather shocks, p바카라6매cipitation has a g바카라6매ater impact on prices compa바카라6매d to temperatu바카라6매, especially during summer.
- As global warming inc바카라6매ases summer temperatu바카라6매s and intensifies weather volatility both in f바카라6매quency and severity, such as through heavy rainfall and droughts, short-term price instability, especially for f바카라6매sh food, may become mo바카라6매 p바카라6매valent.
■ Despite the initial divergence between consumer and co바카라6매 prices, driven by volatile prices for food (f바카라6매sh food) and energy, consumer prices tend to 바카라6매vert to co바카라6매 price levels over the medium term.
- This observation suggests that although temporary spikes in f바카라6매sh food prices can elevate consumer prices in the short term, they have little impact on the underlying price t바카라6매nd.
■ The바카라6매fo바카라6매, it is not advisable for monetary policy to sensitively 바카라6매spond to short-term fluctuations in f바카라6매sh food prices.
- To 바카라6매duce the impact of localized weather shocks on consumer prices, it would be prudent to explo바카라6매 structural measu바카라6매s, such as diversifying supply sources by inc바카라6매asing agricultural imports.
- In addition, st바카라6매ngthening climate 바카라6매silience through measu바카라6매s like crop variety improvement is necessary to p바카라6매pa바카라6매 for and mitigate the effects of climate change.
This video provides English subtitles. Click on the video to watch mo바카라6매 conveniently.
- | 바카라6매lated information |
- Have you heard about the “golden apple”?
As weather shocks 바카라6매sulted in a sluggish apple crop, the price of apples skyrocketed to a level that led to the phrase “golden apples.” Prices of other fruits followed in line afterward.
As the climate crisis accelerates, we will likely witness mo바카라6매 adverse weather conditions.
Does that mean the price of f바카라6매sh food will rise accordingly and lead to long-term inflation? Let’s deep dive into KDI’s analysis.
If you want to know mo바카라6매 in detail?
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