Inflation & Prices
Too Soon to Cry Victory on Inflation, OECD Tells Central Banks
- Organization urges prudent policy as it cuts inflation outlook
- OECD says global growth to remain moderate with 2024 GDP +2.9%
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The world’s major central banks mustn’t drop their guard in the fight against inflation as it’s too soon to say if sharp interest rate increases have contained underlying price pressures, the OECD said.
Global economic growth is proving more resilient and inflation in the US and Europe is easing faster than the organization expected in its November outlook. But it warned that factors helping that process, including improvements in supply chains and commodity costs, are dissipating or even reversing.