Supply chain disruptions during the economic recovery after the pandemic together with rising energy prices contributed to an increase in average price levels. The economic uncertainty related to the Russian invasion of Ukraine has exacerbated the precariousness of a stable recovery triggering global ripple effects through commodity markets, trade, financial flows, and displaced people. After repeated monetary policy tightening measures by major central banks, inflation levels are gradually decreasing, but are still above the 0-2% target in most countries. In the third quarter of 2023, the average inflation rate among OECD countries was 1.58% relative to the previous quarter, and 6.16% relative to the previous year. The inflation level in Switzerland of 1.6% was within the target range of the Swiss National Bank, while China experienced no price increase. This is likely related to the economic slowdown that the country is experiencing. The OECD economic outlook expects annual inflation to decrease further in the coming quarters, following the tightening of monetary policy by central banks. According to recent estimates, average inflation among OECD countries could reach 5.3% in 2024 and 3.8% in 2025. No further tightening measures are planned for the next quarters.