Global inflation hasn’t been this high since 2008

Price are rising quickly across huge swaths of the developed world, with inflation in countries that belong to the Organization for Economic Cooperation and Development surging in April to the highest rate since 2008.

Energy price hikes boosted average annual inflation across OECD countries to 3.3 per cent in April, compared with 2.4 per cent in March, the Paris-based organization said.

That’s the fastest rate since October 2008, when the global financial crisis delivered a massive shock to the world economy, CNN reported.

Source: Jordan News Agency