In the News
Supply Crunch - Inflation to remain higher for two years, warns OECD
22nd September 2021
The OECD is forecasting higher inflation across the developed world, with the UK expected to have 3% inflation by the end of 2022, but falling inflation in a number of other economies.
The causes? Self-evident to be honest - higher raw material costs, supply chain issues and higher levels of consumer demand all play a part and can be shown by elementary AD-AS analysis. You can access the latest OECD forecasts here.
The latest @OECD #InterimEconomicOutlook now expects world GDP to grow by 5.7% in 2021 and 4.5% in 2022. But the #recovery is uneven across countries.#EconomicOutlook #OECDYouthWeek pic.twitter.com/zuqkhqQasd
— OECD Economics (@OECDeconomy) September 21, 2021
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Graham Watson
Graham Watson has taught Economics for over twenty years. He contributes to tutor2u, reads voraciously and is interested in all aspects of Teaching and Learning.
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