Iran war to push global inflation to 4%

The OECD forecasts that the conflict in the Middle East will drive global inflation to an average of 4% for G20 nations this year. OECD Secretary General Mathias Cormann highlighted significant downside risks to the economic outlook due to the ongoing geopolitical tensions. This projection indicates a resurgence of inflationary pressures worldwide, potentially impacting economic growth and consumer spending. The forecast underscores the interconnectedness of global events and their influence on macroeconomic stability.