Global inflation in April exceeded the highest rate since 2008 – Prensa Latina

According to the Organization for Economic Cooperation and Development, higher energy prices pushed annual inflation to 3.3 percent in April, compared to 2.4 percent in March, the highest growth rate since October 2008 when the financial crisis hit the world economy.

The agency said that higher prices affect all countries, even when excluding the volatile costs of food and energy, for example, without looking at these products, the index jumped from 1.8 percent in March to 2.4 in April.

He predicted that rising costs of goods would present a major challenge to global policy makers, but the re-integration of supply chains and the restoration of production could change the picture.

However, the agency said prices in the OECD rose at different rates. In the United States, the annual inflation rate rose from 2.6 percent in March to 4.2 percent in April, while inflation in Canada accelerated from 2.2 percent to 3.4 percent.

Meanwhile, increases in Europe were more modest in April, the United Kingdom at 1.6 percent, Germany (2), France (1.2) and Italy (1.1).

The Organization for Economic Co-operation and Development is an international body made up of 38 countries that collectively represent 60 percent of the global economy.

mgt/TDd