OECD inflation surges 8.8% in March as rampant energy costs bite – The National

OECD inflation surges 8.8% in March as rampant energy costs bite – The National

Inflation in the Organisation for Economic Co-operation and Development area surged 8.8 per cent in March 2022, compared to the same month last year, as energy prices continue to rise.

The equivalent rise in the 38-member countries of the organisation was only 2.4 per cent in March 2021.

The latest rise is also a whole percentage point higher than the year-on-year rise of 7.8 per cent recorded in the area in February.