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Global growth to slow amid 'persistent' high inflation: OECD

13 Sept 09:26 Key points summarised by AI

The OECD forecasts a significant slowdown in global economic growth, dropping from 3.1% this year to 2.2% in 2023, driven by persistent high inflation and the largest energy crisis since the 1970s.
Decades-high inflation, fueled by Russia's war in Ukraine and pre-existing supply chain bottlenecks, is eroding purchasing power and hitting economic growth worldwide.
Inflation in G20 economies is expected to reach 8% by the fourth quarter of this year, gradually declining to 5.5% in 2023 and 2024, with the global economy facing a slowdown rather than a recession.
The OECD recommends tightening monetary policy, targeting support measures for families and firms, and accelerating investment in clean energy to combat inflation and diversify energy supply amidst high and volatile costs.

Today 12:56 Key points summarised by AI

President Macron condemned widespread rioting and looting during nationwide protests, blaming far-left activists and criminals for the "unrestrained violence" and vowing accountability for those who "sought to bring down the Republic."
Over 2,400 arrests were made as protests against rising living costs and poor school conditions escalated, causing extensive damage to public buildings and businesses in cities like Paris, Limoges (where City Hall burned), Marseille, and Lyon.
The unrest, which organizers hoped would revive the "yellow vest" movement, saw political leaders trade blame, with Macron instructing prefects to protect public buildings and potentially ban future protests to prevent further disorder.