Global inflation expected to be 7.1% this year 

Global inflation will be 7.1% in 2023, 5.8% in 2024, and 4.5% in 2026, Report informs, citing the German Institute for Economic Research (Ifo) and the Institute for Swiss Economic Policy (IWP).

The inflation rate is expected to be 5.4% in the Western Europe region, 5.2% in North America, and 5.3% in Southeast Asia, lower than the global average.

These figures will be 23% in South Asia in 2023, 25% in South America, 32% in North Africa, and 35% in East Africa.