Big relief before Budget 2023, inflation will not spoil your budget! Relief to common man from IMF report

Washington. Dearness (Inflation Rate) On the front, the common man of the country can get more relief in the coming days, as inflation is expected to come down. The rate of inflation in India may come down from 6.8 percent in the current financial year ending March 31 to 5 percent in the next financial year. In 2024, it is expected to further decrease to 4 percent. international monetary fund (IMF) has predicted this on Tuesday.

Daniel Leh, head of the research department at the IMF, said, “Like other countries, inflation in India is expected to come down from 6.8 per cent in 2022 to 5 per cent in 2023.” In 2024, it may further come down to 4 per cent.” He said, “This partly reflects the steps of the central bank.”

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IMF released the report
The IMF released an updated report on the ‘World Economic Outlook’ on Tuesday. According to this, consumer price index based inflation will decrease in 2023 as compared to 2022 in about 84 percent of the countries. The report states that global inflation will come down from 8.8 percent (annual average) in 2022 to 6.6 percent in 2023 and 4.3 percent in 2024. In the pre-pandemic era (2017-19), it was around 3.5 percent.

Inflation expected to decrease worldwide
The projected decline in inflation is partly based on softening of international fuel prices and non-fuel prices due to weak global demand. This also shows that monetary tightening is having an effect. The IMF said that core inflation will fall from 6.9 percent in the fourth quarter of 2022 on an annual basis to 4.5 percent by the fourth quarter of 2023.

“Global inflation is expected to decline this year but will still exceed pre-pandemic levels in more than 80 percent of countries by 2024,” Pierre-Olivier Gorinches, director of research at the IMF, said in a blog post. ,

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Tag: imf, Indian economy, Indian GDP, inflation