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Here’s how climate change makes inflation worse (thenarwhal.ca)

submitted 11 hours ago by Wren@lemmy.today to c/indy_news_canada@sh.itjust.works

2 comments fedilink hide all child comments

If you ask an economist why everything is so expensive these days, you will likely get an answer explaining how oil — the lifeblood of the global economy — is currently facing supply bottlenecks in the Strait of Hormuz, thereby bringing up global energy prices.

That explanation is part of the answer, but it doesn’t paint the whole picture. Our new research proposes a new way of thinking about rising costs in our contemporary era, through the lens of what we call “climateflation.”

As a concept, climateflation proposes that the causes, effects and even attempts to mitigate and adapt to climate change are conspiring to make everyday life more expensive.

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[–] lizardo@lemmy.world 2 points 11 hours ago (1 children)

I used to live in Canada, I remember the carbon tax lol. There were also have taxes between provinces, not sure about now.

[–] Wren@lemmy.today 2 points 11 hours ago

You mean PST (provincial sales tax?) Yeah, it's still a thing in some provinces. Others have switched to HST (harmonized sales tax) which includes both. This is except Alberta, where they finagled something else and haven't had PST in a long time. The territories don't charge territorial taxes either.