Energy Costs Push Inflation to 13-Year High in OECD

(Bloomberg) -- The global surge in energy prices pushed inflation in the OECD area to 4.6% in September, the highest rate since 2008. The report on the 38-member group adds pressure to major central banks that have said the situation is largely transitory and shied from any sudden tightening of policy to contain prices. “Our expectation is that once supply bottlenecks are resolved inflationary pressures are likely to fade, however there is a risk of more persistent inflationary pressures and policy makers will need to remain vigilant in the coming months,” OECD Secretary General Mathias Cormann said.

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