Wednesday, May 29

IMF CEO: Global Inflation Seems to Have Peaked

Global inflation appears to have peaked. That’s what top woman Kristalina Georgieva of the International Monetary Fund (IMF) said at the climate summit in Egypt.

But, according to her, inflation will remain stubbornly high for the foreseeable future.

Important inflation figures from the United States will be released later this week. This should indicate a further slowdown in inflation in the world’s largest economy in October. Georgieva says she does not want to prejudge those numbers but thinks a peak may have been reached.

She says that central banks are rightly united in fighting inflation by raising interest rates sharply.

But it will be difficult to bring inflation down really quickly to the desired level of about 2 percent, the IMF director thinks. This is because energy prices remain high, as do food prices. There are also still disruptions in supply chains.

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