Extreme Heatwaves in Europe Drive 'Climateflation,' Threatening Global Food Security

Record-breaking heatwaves in June 2026 severely impacted European harvests, resulting in a loss of 9 million tonnes of grain and significant agricultural damage. Oxford Economics warns that this 'climateflation' now poses a greater threat to global food inflation in 2027 than geopolitical conflicts, directly impacting yields and thinning global food buffers.