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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
GLOBAL
The IMF continues to see inflation moderating this year and next but remaining above 2% in the developed world, the target of many central banks. It advises that “the priority remains achieving sustained disinflation”.
- In its July update, the IMF revised down its global inflation forecast for 2023 by 0.2pp to 6.8% down from 2022’s 8.7%. However, 2024 was revised up by 0.3pp to 5.2%, driven by upward revisions to core. It continues to see risks to inflation from extreme weather and a deterioration in the situation in Ukraine.
- OECD inflation was left at 4.7% in 2023 down from 7.3% in 2022, then moderating to 2.8% in 2024, which was revised up by 0.2pp. Underlying inflation is expected to ease more gradually.
- Emerging market inflation was revised down 0.3pp to 8.3% for 2023 helped by lower commodity prices, down from 9.8% last year. 2024 should moderate to 6.8% but has been revised up 0.3pp.
Global CPI y/y%
Source: MNI - Market News/Refinitiv
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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