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The Economic Times

National / The Economic Times

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Asia heat waves spell double trouble for economies hit by oil

Asia faces a new inflation threat from El Nio 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 Nio is expected to intensify these pressures later this year. Food prices are set to climb further in the coming quarters.

8 May 2026 8:46 am