Australia’s weather bureau has said that the chances of an El Nino event happening in the southern hemisphere are over 70%. The climate event has the prospect of causing severe droughts and floods across the globe affecting major food supplies.
The ECB have long been blaming falling food prices as one area causing lower inflation and if this comes to fruition then prices will likely go up. Of course if they do go up the ECB will be able to do nothing about it as it’s inflation that is out of their control.
Now if I was working with a strong currency that made imports cheaper I’d be stocking up while the prices were cheap. You watch them moan about food prices hampering the economy in 6 months
