How El Nino Is Rewiring Global Inflation

Stagflation Conversations with Fexingo: High Inflation, Slow Growth, and 1970s Echoes · Sep 3, 2026 · 10m · transcript

As a supersized El Nino looms, Lucas and Luna examine how extreme weather is shifting from a peripheral risk to a core inflation driver. With core CPI holding at 336.8 and real GDP growth slowing to 1.50 percent, they analyze why agricultural supply shocks are harder to ignore than before. The conversation explores the specific mechanics of how droughts and floods in key growing regions like South Korea and the US Midwest are feeding into food prices, creating a stagflationary friction that central banks cannot easily rate their way out of. This episode breaks down the new math of…