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The global surge in consumer prices may be close to the high point, International Monetary Fund Managing Director Kristalina Georgieva said, Bloomberg reported.
“I’m not going to jump ahead of data, but it is very possible that we are peaking,” Georgieva said.
“We now see central banks very united on fighting inflation as a top priority and rightly so. If we don’t succeed, it would de-anchor and then the foundation for growth which is price stability is dented.”
Officials will still struggle to reduce consumer price growth to a more manageable pace, she said.
“Inflation is going to be harder to bring down to the desirable level of around 2%,” she said. “If we are going to see diversification of supply chains, that inevitably is going to put some upward pressure on prices.”
“I’m not going to jump ahead of data, but it is very possible that we are peaking,” Georgieva said.
“We now see central banks very united on fighting inflation as a top priority and rightly so. If we don’t succeed, it would de-anchor and then the foundation for growth which is price stability is dented.”
Officials will still struggle to reduce consumer price growth to a more manageable pace, she said.
“Inflation is going to be harder to bring down to the desirable level of around 2%,” she said. “If we are going to see diversification of supply chains, that inevitably is going to put some upward pressure on prices.”
