El Niño forecast could push Australian food prices higher this summer

A strong El Niño is underway in late spring and into summer in Australia, the Bureau of Meteorology reports, and could become the strongest event on record since 1950.

The event is expected to lower spring rainfall in parts of Australia, potentially reducing availability and raising prices for leafy greens, peas, broccoli and cauliflower, while increasing supply of citrus, apples and stone fruits such as peaches, nectarines and plums.

Higher prices for fertiliser and diesel, above A$2.60 a litre, add to farm input costs and could lift consumer food prices, keeping inflation above the Reserve Bank of Australia's 2‑3% target for some time.

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