‘Super’ El Niño could cause global food price shock lasting into 2028, analysts say
Economists warn that a severe 'super' El Niño weather cycle could trigger a global food price shock lasting until 2028. The phenomenon, exacerbated by climate change and regional conflicts, threatens to increase inflation and pressure central banks to maintain high interest rates.
Why it matters
Rising food costs directly impact global household purchasing power and may force central banks to keep interest rates elevated, potentially slowing economic growth.
European Central Bank estimated three years ago that a strong El Niño could drive up food commodity prices by up to 9%, with soya beans among those hit hardest. European Central Bank estimated three years ago that a strong El Niño could drive up food commodity prices by up to 9%, with soya beans among those hit hardest. Global economy ‘Super’ El Niño could cause global food price shock lasting into 2028, analysts say Weather cycle threatens harvests worldwide, adding to inflation already fuelled by the Iran war
The article reports on economic forecasts and scientific data regarding climate patterns without overt political advocacy.
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