OECD slashes global growth forecasts, blames dire outlook on Russia's war in Ukraine

The war in Ukraine is continuing to rock the global economy with the OECD the latest to slash its growth forecasts while warning about surging inflation. 

While fears about a recession are being played down, the OECD doesn't see much relief in surging prices we're seeing here in everything from food to petrol and energy costs. 

Analysis from the ABC's Peter Ryan.