The Strategist

IMF expects slowdown in global inflation in 2023 and 2024

01/31/2023 - 08:29

According to the International Monetary Fund's latest report, which was published on Tuesday, global inflation will fall to 6.6 percent this year and to 4.3 percent in 2024, but will still be significantly higher than pre-pandemic levels in both years.
The IMF World Economic Outlook study states that global inflation "is forecast to reduce from 8.8 percent in 2022 to 6.6 percent in 2023 and to 4.3 percent in 2024, still above the pre-pandemic average of roughly 3.5 percent."

According to the report, the conflict in Ukraine, rising global inflation, and recent coronavirus outbreaks in China were some of the main causes of the world economy's decline in 2022.

The IMF expects that "the first two of these variables will remain in place in 2023."