Middle East Economic Survey

VOL. XLVII

No 39

27-September-2004

OIL PRICES

OECD And IMF See No Impact of High Oil Prices On World Inflation

The recently released OECD Interim Economic Review concludes that high oil prices have had only a limited impact on core inflation and wages in the major industrial countries, and that thus far the negative impact of oil market turbulence has therefore been of limited magnitude, according to Jean-Philippe Cotis, OECD chief Economist in a written statement...