Slightly more upbeat, but still somewhat concerned by the OECD, as it revised upward today its forecast for global growth in 2024, while warning of the risk of a further rise in inflation if Houthi attacks in the Red Sea continue.

Unless a new unforeseen geopolitical shock occursglobal growth is expected to be stronger than his previous forecasts OECD (Organization for Economic Co-operation and Development): global GDP is expected to grow by 2.9% compared to 2.7%which was the November estimate.

The Organization, based in Paris, he watches, however, carefully the Red Sea, a key transit point for world trade with around 12% of traffic. This movewhich has been severely disrupted since mid-November by guerrilla attacks in support of the Palestinians, has fallen by 30% year-on-year, according to the International Monetary Fund.

To escape the danger, ships bypass this area and circumnavigate Africa passing through the Cape of Good Hope, like the shipping company CMA-CGM, which on Friday announced the re-suspension of its ships passing through the Red Sea. This route, longer and more expensive, is expected to affect the prices of the products, in addition to the problems already caused in the production chains in Europe.

“If this continues,” the increase in shipping costs is expected to lead to a rise in inflation in 2024by 0.4 of a unit after about a year in developed countries, as estimated by the OECD in its quarterly report.