Global inflation spike seen posing near-term risks to economy: OECD

Supply-chain difficulties, surging commodities prompted OECD to raise its forecast for consumer-price gains this year and next in every Group of Seven country aside from Japan

Global central banks need to set out clear strategies for coping with inflation risks as the world economy experiences faster-than-expected cost increases amid an uneven recovery from the pandemic, the OECD said.  

While new restrictions to contain the spread of the delta variant are weighing on activity in some regions, supply-chain difficulties and surging commodities prompted the Paris-based organization on Tuesday to raise its forecast for consumer-price gains this year and next in every Group of Seven country aside from Japan. 

“Near-term inflation risks are on the upside, particularly if pent-up demand by consumers is stronger than anticipated, or if