The record June heatwave that swept across Europe caused about $1.5 billion in damage to the UK economy. Bloomberg reports.

According to researchers, June 2026 was the hottest June ever recorded in Europe. The extreme heatwave, it is noted, led to about 2,700 additional deaths in England and Wales alone.

High temperatures also affected labor productivity. During the week beginning June 22, UK residents worked on average about 30 minutes less than usual. The most noticeable reduction in working hours was recorded among people engaged in physical labor or those constantly working in hot conditions, including construction workers and agricultural workers. At the same time, 3.6% of study participants did not go to work at all during this period.

As scientists from World Weather Attribution noted, the consequences of the record summer heat will be felt by the economy for a long time. According to their data, extremely high temperatures accelerate the evaporation of moisture from the soil. Researchers from 12 European countries concluded that this increases the likelihood of drought by 80 times.

According to experts, crop failures, falling water levels in rivers and on key shipping routes, as well as the negative impact of heat on energy production, including nuclear power, could further lead to accelerating inflation.