Heatwaves pose bigger risks to inflation than activity
Heatwave-related impacts on near-term activity are likely to be sector-specific, short-lived, and therefore have only a small influence on aggregate GDP. This summer’s scorching temperatures pose a bigger near-term upside risk to inflation through higher food and energy prices. But developments in the Middle East will be more important for inflation.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.
