Inflation Set To Remain Higher For 2 Years OECD Warn, As Stock Markets Settle Despite China Debt Crisis
Manage episode 302835017 series 2112440
Rising prices in the G20 group of major economies will grow faster than pre-pandemic for at least two years, the OECD forecasts.
Consumers have suffered price hikes as higher commodity prices and shipping costs increase inflation for the first time in years, Paris-based policy forum reports.
Inflation have reached 3.2% in the UK, highest rate of the advanced economies, and is expected to continue at this level until the end of the year, the OECD said. Inflation is expected to fall in the US, France, and Germany.
Inflation has returned all over the world due to the cost of raw materials, constraints on the supply of goods, stronger consumer demand as economies reopen, and prices recovering from drops during the pandemic in some sectors, it said.
Consumer demand, supply disruptions and depleted stores of goods have forced up prices and shipping costs. Further supply shortages could lead to a longer period of higher inflation, the OECD said.
The OECD expects the rate of inflation in the G20 to moderate from 4.5% at the end of 2021 to 3.5% by the end of 2022. Source: BBC.
The real estate bubble in China continues to grow with Evergrande expected to default on interest payments this week or receive government aid.
Meanwhile, over a million property buyers are waiting to see if they will lose their deposits on ‘off plan’ unfinished properties all over China.
These are worrying times. Markets and property prices in majors Cities around the world remain at an all-time high while governments print trillions to prop up weakened economies.
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