Leading thinktank raises global inflation forecast to 7.5% as cost of food staples, minerals and energy soars
A twin growth and inflation blow to the global economy from the war in Ukraine will require governments to provide help with rising energy bills to hard-pressed consumers, the west’s leading thinktank has said.
The Paris-based Organisation for Economic Cooperation and Development said it had shaved more than a percentage point off its forecast for world output and raised its inflation estimate by 2.5 percentage points as a result of the Russian invasion.