Scorching summer heat across the euro zone will likely worsen due to climate change and leave consumers facing higher prices, according to research by the European Central Bank. Above-average temperatures, especially around the middle of the year, have the biggest impact on unprocessed food costs, according to a paper covering the bloc’s top four economies. Reasons may include lower agricultural and labor productivity, and drops in fresh-food supplies, authors Matteo Ciccarelli, Friderike Kuik and Catalina Martinez Hernandez said. “As climate change brings more frequent and more severe weather shocks, the volatility ... (full story)