How the "special operation" in Ukraine changed the forecasts for inflation in different countries of the world The rise in global inflation forecasts is even more impressive than the expected drop in GDP growth. The June OECD forecast in Turkey, for example, expects inflation of 72% for 2022 (versus the 23.9% expected in the previous, pre-war forecast)
In Argentina, prices are now forecast to rise by 60% over a year against 44.4%, in the Baltic states - in the range of 13.3% to 15.6% (against 3.2-6% in the December version of the forecast). Most Eastern European countries expect prices to grow by more than 10% for a year; other European and North American countries expect a 5% to 9% growth against the earlier forecast of 2-3%, and occasionally 4%.
