Are We In A Recession 2024 Predictions. Elevated central bank rates to fight inflation and a withdrawal of fiscal support amid high debt weigh on economic activity. Global inflation is forecast to decline steadily, from 6.8 percent in 2023 to 5.9 percent in 2024 and 4.5 percent in 2025, with advanced economies returning to their inflation.
Central banks having hiked interest rates at breakneck speed and those rates are set to stay higher for longer while the lagged effects set in. Inflation will not fall to target on a sustained expansion.