Global Inflation Fight ‘Has Been Largely Won’ Without Recession, IMF Chief Economist Says

Global economic output expected to be 3.2 percent in 2024 and 2025.

A man walks past the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., on May 10, 2018. Yuri Gripas/Reuters

The global fight against inflation “has been largely won” without triggering a significant economic downturn, says International Monetary Fund (IMF) chief economist Pierre-Olivier Gourinchas.

IMF officials published the October edition of the World Economic Outlook, forecasting that headline inflation will cool to 3.5 percent by the end of next year, slightly below the two-decade average before the pandemic.