On inflation, the report says that after surging for two years, global inflation eased in 2023 but remained above the 2010-2019 average. Hopestone Chavula, ECA Economic Affairs Officer who presented the report highlighted that although the global inflation is ebbing, food price inflation can exacerbate food insecurity and poverty. After surging for two years, global inflation eased in 2023 but remained above the 2010-2019 average. In 2023, global trade growth weakened significantly to an estimated 0.6 per cent, a sharp decline from 5.7 per cent in 2022. Central banks must navigate a delicate balance between inflation, growth and financial stability.
