El Niño, Oil Surge, and Political Tensions: Australia Faces a Triple Threat

A record-breaking El Niño event is forecast to peak in late spring or summer, threatening to push already-strained supermarket bills even higher. The Bureau of Meteorology predicts the weather pattern will "reach levels above the warmest observed since reliable records began in 1950," with hot, dry conditions in eastern Australia identified as a key risk for food prices over the next 12 months. Rabobank analyst Michael Harvey warns this is "clearly one of the key issues"...