Oliver Mangan: With rising inflation central banks face difficult choices

The release of pent-up demand and a rebound in commodity prices, especially in the energy sector, have caused inflation to surge this year

Risks to the global economy include the supply chain crunch with many ports seeing huge backlogs of containers. Picture: Kyle Grillot/Bloomberg

Autumn updates on the outlook for the global economy have been published in recent weeks by the IMF and OECD. 

These show little change to their growth forecasts for 2021 and 2022 compared to their mid-year projections, with the world economy expected to expand by close to 6% this year and 4.5%-5% next year.