Global economy is now headed in the right direction: IMF
Could the global economy be witnessing the final stage of the inflationary cycle that started in 2021?
As is often the case, there are more risks that the economy will stumble and disappoint, rather than surprise to the upside.The IMF only tweaked its formal outlook. And core inflation, which excludes food and energy prices, is looking stubborn in the most developed economy. It is expected to remain unchanged at 5.1% in 2023 from last year. It will start to move lower next year, to a 3.1% rate, the IMF said.The key to the persistence of inflation will be labor market developments and wage-profit dynamics, the IMF said.
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