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US Economy Dodges Harsher Hit on Inflation From Hurricane Ian

  • Deadly Category 4 storm spared critical fertilizer facilities
  • Florida counties ruined but broader inflation impact avoided
A resident surveys damage following Hurricane Ian in Matlacha Isles, Florida, on Oct. 1.

A resident surveys damage following Hurricane Ian in Matlacha Isles, Florida, on Oct. 1.

Photographer: Eva Marie Uzcategui/Bloomberg

Hurricane Ian has left a path of destruction behind, destroying countless homes, ruining citrus crops and risking fragile supply chains, but the storm’s skirting of a key US fertilizer-production area in Florida means the broader US economy was spared from the worst.

Ian hit the coast of Fort Myers in the country’s third-largest state just shy of the most-powerful Category 5 level on Wednesday and made a second landfall in South Carolina Friday. In addition to the human tragedy, the storm is set to be one of the top-10 costliest storms in the US, resulting in about $70 billion to $120 billion in economic damage.