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Derek Lemoine, Associate Professor of Economics, University of Arizona

How record-setting heat waves in cities across UK, US and mainland Europe could punish economies already reeling from inflation

A runner tries to beat the heat by working out in the morning. AP Photo/Michael Probst

Hundreds of millions of people struggled to keep cool amid a sweltering summer heat wave as cities across the U.S. and mainland Europe experienced record-high temperatures. In the U.K., thermometers topped 104 Fahrenheit (40 degrees Celsius) on July 19, 2022, the highest ever recorded.

While all this broiling heat is surely punishing on a personal level, it also has significant impacts on the broader economy.

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