Rising fuel and food products have become a problem not only for the leading economies of the world – the growth rate of consumer prices in developing economies is also updating multi-year highs. In Chile, South America’s fifth-largest economy, annual inflation accelerated to 11.5% in May from 10.5% a month earlier, the highest since July 1994, official data released Wednesday showed. Meanwhile, consumer prices in Ghana, Africa’s top 10 economy, jumped 27.6% year-on-year in May after rising 23.6% in April, the fastest pace since January 2004. Inflation in the country has been accelerating for 12 consecutive months and has exceeded the central bank’s target range of 6-10% for 9 months. Earlier it became known that consumer inflation in Tunisia last month reached 7.8%, which is the highest since October 1991. Acceleration of inflation has been observed for eight months in a row, writes Trading Economics. Taiwan records a much more moderate consumer price growth of 3.39% in May. However, the economy of the island state has not seen such an indicator since August 2012. Especially strong inflation is observed in Turkey (73.5% in May) and Argentina (58% in April). According to the April forecast of the International Monetary Fund, inflation in developing economies this year will average 8.7%. For developed countries, the forecast is 5.7%. Published on Wednesday, the new forecast of the Organization for Economic Cooperation and Development (OECD) provides that in the countries included in the organization, inflation in 2022 will be 8.5%, in the G20 members – 7.6%. Source: FINMARKET.RU

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