El Nino could jack food prices into 2028

The Guardian -  Economists are warning that a “super” El Niño weather cycle this year could cause a severe shock to global food prices lasting into 2028.

As the Iran war pushes up world food prices to the highest level in three years, economists said supply chains faced “two shocks at once” stoked by extreme weather linked to global heating.

Scientists have said the 2026-27 El Niño – which forms when changes in wind patterns allow warmer water to spread across the central and eastern equatorial Pacific – has a historically unprecedented chance of developing into a “very strong” event fuelling heatwaves, flooding and stormier weather....

At a time when households around the world are already feeling the pinch from soaring living costs, experts say an extreme El Niño could add further to the pressure. The prospect of a renewed inflation shock is also rattling central banks, adding to concern that interest rates could be kept at elevated levels.