Latest Trends
The global inflation rate is expected to decline to 5.8% in 2024, down from 6.8% in 2023. However, some countries like Venezuela, Zimbabwe, Sudan, and Argentina are projected to experience high inflation rates, while others may experience deflation or low inflation. The persistence of inflation despite central banks raising interest rates suggests that there are underlying factors driving inflation, such as corporate consolidation and market concentration.

Risks that could drive up inflation include rising shipping costs due to geopolitical conflicts, strong consumer demand fueled by accumulated excess savings, and rising housing costs. However, projections suggest that the path towards a 2% inflation target is slow but headed in the right direction. Despite these risks, there are signs of progress, with inflation expected to fall in most regions.

The data highlights the diverse economic landscapes and inflationary patterns across the globe. The world is experiencing varying levels of inflation, influenced by a delicate balance of factors. While there are risks that could drive up inflation, the overall trend is expected to be a slow decline in inflation rates.

Latest Data
In the US, inflation is forecasted to reach 2.6% in 2024.

In Europe, advanced economies are expected to average 3.3% inflation in 2024.

China is experiencing deflation, with inflation forecasted to reach 1.7% due to sluggish economic activity, manufacturing slowdown, and low consumer confidence.

In the UK, core inflation is expected to remain elevated at 3.1% in 2024, reflecting challenges in bringing inflation back down to 2%.

Global core inflation is projected to remain sticky at around 3% in 2024, with central banks striving to achieve their inflation targets amidst various economic challenges.