OECD Forecasts 4.2% Inflation as War Hits Global Economy

[Stay on top of transportation news: Get TTNews in your inbox. ] The conflict in the Middle East is reviving the specter of inflation and hobbling the global economy just as it was showing signs of strengthening at the start of the year, the OECD said. In its updated outlook on March 26, the Paris-based organization sharply increased its inflation forecasts for major economies and now sees the average rate for the Group of 20 this year jumping to 4% — with an even higher pace in the U. S.