Emerging markets stare at inflation risks as powerful El Niño looms
Emerging markets stare at inflation risks as powerful El Niño looms July 27 (Reuters) - Emerging economies already strained by the Middle East conflict face a new threat: a potentially powerful El Niño that could push up food prices and slow growth. National Oceanic and Atmospheric Administration is forecasting an 81% chance of a very strong El Niño through October-December period, potentially placing it among the most powerful events on record since 1950 and dubbed by markets as "super El Niño".
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Emerging markets stare at inflation risks as powerful El Niño looms July 27 (Reuters) - Emerging economies already strained by the Middle East conflict face a new threat: a potentially powerful El Niño that could push up food prices and slow growth. National Oceanic and Atmospheric Administration is forecasting an 81% chance of a very strong El Niño through October-December period, potentially placing it among the most powerful events on record since 1950 and dubbed by markets as "super El Niño". The weather phenomenon, which typically occurs every two to seven years, is likely to bring drought to parts of Asia and heavy rains to parts of South America, threatening harvests and food supplies. Emerging markets are particularly vulnerable as households spend a larger share of their income on food, and agriculture plays a big role in their economies, raising the risk that central banks will have to keep policy tighter for longer.
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- Emerging markets stare at inflation risks as powerful El Niño looms July 27 (Reuters) - Emerging economies already strained by the Middle East conflict face a new threat: a potentially powerful El Niño that could push up food prices and slow growth. National Oceanic and Atmospheric Administration is forecasting an 81% chance of a very strong El Niño through October-December period, potentially placing it among the most powerful events on record since 1950 and dubbed by markets as "super El Niño".
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Emerging markets stare at inflation risks as powerful El Niño looms
Sources1TypeCoverageInvesting.com · Economy