logo
IMF Global Economy
FILE - An Amazon worker sorts deliveries on a street corner on New York's Upper West Side, Aug. 14, 2023. (AP Photo/Richard Drew, File)

IMF's view: The global fight against high inflation is 'almost won'

The global war against inflation has largely been won — and at surprisingly little cost to economic growth, the International Monetary Fund has declared

By PAUL WISEMAN
Published - Oct 22, 2024, 04:27 PM ET
Last Updated - Dec 16, 2024, 06:06 PM EST

WASHINGTON (AP) — The global war against inflation has largely been won — and at surprisingly little cost to economic growth, the International Monetary Fund declared Tuesday.

In its latest assessment of the global economy, the IMF predicted that worldwide inflation will cool from 6.7% last year to 5.8% this year and to 4.3% in 2025. It estimates that inflation will fall even faster in the world’s wealthy countries, from 4.6% last year to 2.6% this year and 2% — the target range for most major central banks — in 2025.

The slowdown in inflation, after years of crushing price increases in the aftermath of the pandemic, led the Federal Reserve and the European Central Bank to cut interest rates this year after they had aggressively raised them to try to tame inflation.

“The battle against inflation is almost won,″ Pierre-Olivier Gourinchas, the IMF's chief economist, told reporters Tuesday. ”In most countries, inflation is hovering close to central bank targets.″

Our Offices
  • 10kInfo, Inc.
    13555 SE 36th St
    Bellevue, WA 98006
  • 10kInfo Data Solutions, Pvt Ltd.
    Claywork Create
    11 km, Arakere Bannerghatta Rd, Omkar Nagar, Arekere,
    Bengaluru, Karnataka 560076
4.2 12182024