New Zealand highest

Press, Volume CXV, Issue 34030, 19 December 1975, Page 2

New Zealand highest

(tf.Z P A.-Reuter—-Copyrightj PARIS, December 18. New Zealand will have the highest rate of inflation next year of 24 main Western industrial nations, and West Germany the lowest, the Organisation for Economic Co-operation and Development has predicted.

New Zealand's rate would be 17 per cent, compared with 15 per cent this year, the organisation said, in its six-monthly review of prospects for the industrial Western world. Britain would again be second, with a 1976 rate of 15.25 per cent compared with this year’s forecast 21.5 per cent.

But Ireland, predicted as this year’s “inflation leader” with 22 per cent, would fall next year to 15 per cent, the O.E.C.D. said. It listed seven other nations as likely to have double-figure rates of inflation in 1976. They are. with this year’s forecasts in parentheses: Spain, 15 per cent (17): Australia and Finland. 13 (15 and 17); Belgium, 12 (12.25); Italy. 11.5 (16.75); France, 11 (11.75); and Greece, 10 (13). Iceland. Luxemburg, Portugal. and Turkey taken together would show an inflation rate in 1976 of 10 per cent (11.75 per cent this year), but the O.E.C.D. gave ino individual breakdown. West Germany would again have the lowest inflation rate in 1976, at 4.75 per icent (5.75 this year), it said. It gave other rates, with 11975 comparisons in parentheses, as: Canada. 9.25 per icent (11); United States. 7 1(8): Japan. 9.75 (12.25): Austria. 7.5 (9); Denmark, 7 (9); Netherlands, 8.5 (10.5): Norwav, 8.5 (11.5); Sweden. 8.5 (9.5): and Switzerland. 5 (7).

(O.E.C.D. report, Page 9)