middle east tensions ARE threatening global progress on inflation: world bank

• Published date: 26 April 2024
• Publication title: Star, The (Johannesburg, South Africa)

“Disinflationary tailwinds from moderating commodity prices appear essentially over,” it added. A worst-case scenario shock to oil prices meanwhile could raise global inflation. +Israel’s retaliatory military offensive has killed at least 34 262 people in Gaza, mostly women and children, according to the Hamas-run territory’s health ministry. “A key force for disinflation – falling commodity prices – has essentially hit a wall,” World Bank chief economist Indermit Gill said in a statement. “That means interest rates could remain higher than currently expected this year and next,” he continued. “The world is at a vulnerable moment: a major energy shock could undermine much of the progress in reducing inflation over the past two years,” he...