Ukraine war means governments must help with soaring bills, says OECD

The OECD said the war would further increase energy prices, which would affect businesses and consumers world wide. Photograph: Jacob King/PA

The double blow of growth and inflation to the global economy from the war in Ukraine will require governments to help consumers with rising energy bills, the west’s leading thinktank has said.

The Paris-based Organisation for Economic Co-operation and Development said it had shaved more than a percentage point off its forecast for world output and raised its inflation estimate by 2.5 percentage points as a result of the Russian invasion.