Global battle against inflation almost won, but risks remain – IMF

IMF Chief Economist Pierre-Olivier Gourinchas announced that the global battle against inflation is nearly won, with inflation expected to drop from 9.4% in 2022 to 3.5% by 2025.

Speaking at the 2024 IMF/World Bank Annual Meetings, he credited the decline to global economic resilience, unwinding supply-demand shocks, and effective monetary policies.

However, risks remain due to regional conflicts and potential shifts in trade and industrial policies.

Gourinchas urged policymakers to implement a "policy-triple-pivot" focused on easing monetary policy, stabilizing debt, and promoting growth-enhancing reforms to maintain economic momentum.