JPMorgan Sees Super El Nino Boosting Food Inflation to 1.3%, $100 Oil Compounding Risk
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JPMorgan projects an 81% probability of a super El Nino forming this year, warning that the weather event could lift global food inflation by 1.3% to 1.5%.
The bank's forecast highlights oil prices reaching $100 as a compounding variable, noting that higher energy costs would exacerbate crop yields and prolong broader inflation pressures.
From the sources (2 posts)
@oilandenergyJPMorgan warns a "super" El Niño combined with $100 oil could prolong global inflation. The bank sees an 81% chance of a super El Niño this year, with food inflation potentially rising 1.3%-1.5% as energy costs amplify crop disruptions. #Oi
@polymarketJUST IN: JPMorgan warns a “super” El Niño could surge global food inflation.