IMF raises global inflation forecast
In 2023, the growth rate of consumer prices worldwide this year will stand at 7 percent while next year the indicator will amount to 4.9 percent, according to the IMF World Economic Outlook, RIA Novosti reports
From the table values indicated in the IMF document, it follows that the forecast for this year has been revised upward by 0.4 percentage points compared to the fund’s estimates published in January, and for next year – by 0.6 percentage points.
At the same time, the expected inflation rate will be lower than last year, as a result of which consumer prices in the world increased by 8.7 percent, according to the IMF.
“In general, inflation will return to the target value by 2025 for most cases,” the organisation noted.
Moreover, it is reported that the price growth rate for the current year may differ from the last forecast by 1.2 percentage points, both up and down with a probability of 70 percent.
