India’s inflation is to fall to 5% in 2023 and 4% in 2024, according to IMF

Current context: The World Economic Outlook was recently published by the International Monetary Forum. According to the report, India's inflation rate is expected to drop to 6.8% in March 2023 and further to 5% by the end of the year.

In 2024, the inflation rate in India will be 4%. The report also states that the global inflation rate will decrease to 6.6% in 2023, which was 8.8% in 2022.
The Consumer Price Index will decrease in more than 84% of the world's countries. The average inflation rate in developed economies like the US, France, and Russia is expected to reduce to 4.6% in 2023 and further to 2.6% in 2024, compared to 7.3% in 2022.
In developing economies such as East Asian and South Asian countries, the inflation rate is expected to reduce to 8.1% in 2023 and 5.5% in 2024, compared to 9.9% in 2022.
In low-income countries, the inflation rate will decrease to 8.6% in 2024, compared to 14.2% in 2022.
The report mentions that the current global disinflation is due to decreasing fuel and commodity prices and decreasing global demand.