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Browsing: easing inflation in global markets
- The GDP growth projection is based on easing inflation, which is falling faster than expected in most regions.
- Global headline inflation is expected to decrease to 5.8% in 2024 and 4.4% in 2025, with the 2025 forecast revised down.
- In sub-Saharan Africa, growth is projected to increase from an estimated 3.3 percent in 2023 to 3.8% in 2024 and 4.1% in 2025.
The International Monetary Fund (IMF) projects global GDP growth at 3.1 per cent in 2024 and 3.2 per cent in 2025, with the 2024 forecast being 0.2 percentage points higher than that in October of last year.
This is due to greater-than-expected resilience in the United States and several large emerging market and developing economies, along with fiscal support in China.
However, the forecast for 2024–25 is still below the historical average (2000–19) of 3.8 percent. Elevated central bank policy rates to combat inflation, a withdrawal of fiscal …