In 2022-2023, inflation in OECD countries is expected to fall from its high point at the end of 2021. But from 2024, inflation will be higher on average and much more volatile, analysts at Natixis report.

In 2022-2023, probably disinflation

“OECD inflation is peaking at the end of 2021 but is then likely to decline due to the downward correction in commodity prices and intermediate consumption by companies, and the normalisation of the structure of demand.”

“From 2024, it is likely that we will see higher inflation on average, due to the energy transition, and high variability in inflation due to periodic drastic spikes in fossil fuel prices.”