Asia heat waves spell double trouble for economies hit by oil
- Posted on May 8, 2026
- By Business News Today
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- 1 min read
Asia heat waves spell double trouble for economies hit by oil
Asia faces a new inflation threat from El Niño as rising temperatures and dry weather are all set to increase food costs. This comes on top of existing oil price shocks. Countries like the Philippines and Pakistan are already seeing high inflation. El Niño is expected to intensify these pressures later this year. Food prices are set to climb further in the coming quarters.
