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IMF sees global inflation trimming down


The International Monetary Fund (IMF) said global inflation is subsiding in quite a number of countries. IMF managing director Kristalina Georgieva said they are hopeful of the chance of finally getting on top of the cost of living problem being a major disrupter for millions of people. Last month, the IMF estimated world consumer-price increases would slow to 6.6% this year, 0.1% higher than the October projection, following the 8.8% rise in 2022. It forecast further slowing to 4.3% in 2024. Inflation rates are expected to be lower in about 84% of countries in 2023 compared to 2022. The IMF chief said the world economy is still in a very difficult place; global growth is slowing down in 2023 but it might be a turning point.

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