Inflation To Remain Elevated In Emerging Markets, Developing Economies In 2022 - IMF

Inflation to Remain Elevated in Emerging Markets, Developing Economies in 2022 - IMF

The International Monetary Fund (IMF) expects to see elevated levels of inflation in some developing economies next year, IMF Economic Counselor Gita Gopinath told reporters on Tuesday

WASHINGTON (UrduPoint News / Sputnik - 27th July, 2021) The International Monetary Fund (IMF) expects to see elevated levels of inflation in some developing economies next year, IMF Economic Counselor Gita Gopinath told reporters on Tuesday.

"Inflation is expected to remain elevated next year in some emerging markets and developing economies," Gopinath said during virtual press briefing.

Gopinath warned, however, that developed countries continue to face the risk of high inflation.

"In the United States, we are seeing very high inflation readings," Gopinath said.

The prices of virtually all commodities, including lumber, have skyrocketed in the past several months in the United States as have transportation and other services. In June, the consumer prices increased 0.9 percent and the Consumer price Index accelerated 5.4 percent year-on-year.