IMF forecasts global inflation to drop to 6.5% in 2023 from 8.8% in 2022

The International Monetary Fund has forecast a drop in global inflation from 8.8 percent in 2022 to 6.5 percent in 2023. Last year, a number of countries saw inflation soaring to levels unseen in decades. In the U.S., the CPI surged by 9.1 percent in June from 12 months earlier, marking the fastest pace for inflation since 1981. Spain recorded an average inflation rate of 8.4 percent last year, the highest since 1986.

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