Thank you.
Thank you for being here today.
I wanted to ask a question on climate change. I come from the east coast. Clearly, sea levels, rising temperatures and extreme weather events are very significant in my area of the country, and we've certainly seen that across the country.
When we speak about the increased costs for Canadians, like food and shelter, do we not also need to include the impact of climate change? One example of that is carbon pricing, which is really intended to help combat our net emissions and bring us to the intended targets.
An analysis from Stats Canada published last November linked droughts, heat waves, flooding and heavy rainfall to increased food prices for meat, fruit, vegetables, sugar and coffee. In June, an economist from RBC reported that while food price inflation was expected to slow, a return to prepandemic levels was unlikely due to extreme weather events. There was the link between weather and food costs, given that extreme weather events are predicted to be more frequent.
Are the costs of climate change included in your analysis of risks to the inflation outlook?