There’s no escape from inflation as a perfect storm of the ‘Godzilla’ El Niño, AI boom, Trump tariffs, fuel crunch, and Ukraine war keep prices high

Inflation remains high due to factors including a strong El Niño weather pattern, AI-driven chip shortages, lingering Trump tariffs, and global conflicts like the Ukraine war. The Federal Reserve faces pressure to raise interest rates, with investors expecting at least one hike by year-end. Agricultural commodities like coffee and cocoa are particularly vulnerable to price spikes from El Niño.