IMF Projection: Inflation Remains High Until 2023

Economics & Macro

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Dzulfiqar Fathur Rahman 28/07/2022 20:20 WIB

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The IMF projects that the global inflation rate will remain high until 2023.

IMF Projection of Global Inflation Rate (2022–2023)

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IMF Projection: Inflation Remains High Until 2023

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IMF Projection of Global Inflation Rate (2022–2023)

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In its July 2022 edition of the *World Economic Outlook* (WEO) report, the International Monetary Fund (IMF) projected that global inflation would reach 9% in the third quarter of 2022.

This figure is 1.3 percentage points higher than the WEO projection in April 2022.

The IMF also forecasts that global inflation will remain high until next year, only falling to 4.1% in the fourth quarter of 2023.

According to the IMF, this upward revision in the inflation projection is due to many factors, ranging from the global economy not yet fully recovering from the pandemic, lower-than-expected consumer spending in the United States, the economic slowdown in China due to COVID-19 lockdowns, to the impact of the Russia-Ukraine war, which has driven up energy and food prices.

"With rising prices continuing to squeeze living standards worldwide, taming inflation must be a top priority for policymakers," the IMF wrote in its report.

For developing countries, the IMF raised its inflation projection to 9.5% in 2022, up 0.8 percentage points from the April 2022 projection. For advanced economies, the inflation projection is expected to increase by 0.9 percentage points to 6.6%.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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IMF Projection: Inflation Remains High Until 2023

IMF Projection: Inflation Remains High Until 2023

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IMF Projection: Inflation Remains High Until 2023

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