World on the brink of higher inflation - OECD

Citing strong domestic demand as the main factor driving prices upward, the Organisation for Economic Co-operation and Development says central banks should "err on the side of tightness" in the face of inflationary pressure.

In its semi-annual Economic Outlook, published on 24 May, the OECD urged all central banks except Japan either to raise interest rates or take their time before cutting them. The organisation said that it had identified "many signs of strong underlying global inflation pr