Households in India highly vulnerable to El Niño-driven price shocks: S&P

Households in India and other Asia-Pacific economies such as Vietnam, Indonesia and the Philippines remain highly vulnerable to El Niño-driven price shocks, S&P Global Ratings said. Weaker rainfall and climate disruptions could reduce agricultural output, raise food prices and affect hydropower, it added. However, the macroeconomic impact is likely to be manageable.