Inflation collapses around the world amid coronavirus pandemic
by Richard Partington Economics correspondent from on (#5325Y)
Global economy heads for deepest recession since Great Depression as business comes to near standstill
Inflation in the wealthiest countries has collapsed at the fastest pace since the financial crisis, as the coronavirus outbreak sinks the world into the deepest recession for almost a century.
The Organisation for Economic Cooperation and Development (OECD) said annual growth in the price of goods and services across the group of 37 advanced countries slowed significantly in March as Covid-19 brought business and social activity to a near standstill.
The Organisation for Economic Co-operation and Development is an intergovernmental organisation formed in 1961 to work on global trade and the world economy. It has 36 member countries.
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