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6mo ago

IMF Declares Global Inflation Battle Nearly Won

The IMF reports a significant decline in inflation with minimal impact on global economic growth, while highlighting ongoing risks and regional disparities.

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People look out towards the Canary Wharf financial district from Greenwich Park, in London, Britain, October 16, 2024. REUTERS/Mina Kim/File Photo
Brunelleschi's Dome and Giotto's Campanile of the Cathedral of Saint Mary of the Flower (Cattedrale di Santa Maria del Fiore) are pictured from a panoramic point of Florence, in Tuscany region, Italy, April 15, 2024. REUTERS/Yara Nardi/File Photo

Overview

  • The IMF forecasts global inflation to decrease from 6.7% in 2023 to 5.8% in 2024, with further reductions expected by 2025.
  • The United States economy is projected to grow by 2.8% this year, with a slowdown anticipated in 2025 as budget deficit measures are implemented.
  • Australia faces one of the highest inflation rates among advanced economies, with unemployment expected to rise to 4.4% next year.
  • China's economic growth is predicted to slow due to a weak housing market and consumer confidence, despite strong exports.
  • The IMF warns that geopolitical tensions and protectionist policies could disrupt global trade and economic stability.