Climate change is driving up the cost of living in Europe, a phenomenon known as 'climateflation.' A recent study highlights how extreme weather events, such as the 2022 heat wave and drought, are directly contributing to rising prices, particularly in the food sector. The heat wave significantly hampered olive production in Spain and led to a 9% decrease in chicken-meat production in the UK. Northern Italy experienced its worst drought in 70 years, severely affecting risotto rice harvests. These events contributed to a 0.7% increase in European food prices, nudging overall inflation up by 0.3%.