Vikrant Shekhawat : Jan 31, 2023, 03:34 PM
Inflation Rate in India: There is good news for India. There is a possibility of a decrease in the inflation rate in India. According to the report released by the IMF, India's inflation may come down from 6.8 percent to 5 percent in the current financial year. In the year 2024, it is estimated to come down to 4 percent. This has been told by issuing a report on behalf of the International Monetary Fund.Inflation will come down further in 2024Daniel Leh, Section Head of the Research Department at the IMF, has said that like other countries, inflation in India is expected to come down from 6.8 per cent in 2022 to 5 per cent in 2023. In 2024, it may further come down to 4 percent. He has said that it partially reflects the steps of the central bank.Inflation will decrease as compared to 2022Giving information, the IMF has said that a report has been issued regarding the 'world economic scenario'. According to this, consumer price index-based inflation will decrease in 2023 as compared to 2022 in about 84 percent of the countries.how much inflation will decreaseThe report states that global inflation will come down from 8.8 percent in 2022 to 6.6 percent in 2023 and 4.3 percent in 2024. In the pre-pandemic era (2017-19), it was around 3.5 per cent.Impact will be seen due to global demandThe projected decline in inflation is partly based on a reduction in international fuel prices and non-fuel prices due to weak global demand. This also shows that monetary tightening is having an effect. The IMF said that core inflation will fall from 6.9 per cent in the fourth quarter of 2022 on an annual basis to 4.5 per cent by the fourth quarter of 2023.Know what is the opinion of the expert?In a blog post, Pierre-Olivier Gorinches, Director of the Research Department and Chief Economist at the IMF, said that global inflation is expected to decline this year but will still exceed pre-pandemic levels in more than 80 percent of countries by 2024.