The International Monetary Fund (IMF) reported that high inflation has largely been defeated globally, marking a significant achievement without triggering a global recession.

In its latest World Economic Outlook, the IMF noted that inflation in most countries is nearing central bank targets, although vigilance remains essential, especially with inflation in services still higher than pre-pandemic levels. Global inflation is expected to slow to 5.8% in 2024 and further decline to 3.5% by 2025. However, in some developing economies, inflationary pressures persist, prompting a rise in interest rates.

The US, in particular, continues to face inflation as a key electoral issue.