IMF PROJECTS LOWER INFLATION FOR ANTIGUA AND BARBUDA IN 2023

The International Monetary Fund has projected inflation to fall in Antigua and Barbuda this year.
Its World Economic Outlook released on Tuesday says the average increase in prices will be 5.1 per cent in the twin-island state this year, compared to 9.2 per cent in 2022.
This is forecast to be significantly lower than the average of over 13 per cent for Latin America and the Caribbean for 2023.
It will also be lower than that of several other Caribbean countries, including Barbados, which is projected to see a rate of inflation of close to 7 per cent this year, and Guyana at 6.6 per cent.
St Kitts and Nevis is projected to see the lowest rate of inflation among Caricom at 2.3 per cent, while Suriname is set to see the highest, at 42.7 per cent.
The IMF says the baseline forecast is for global headline inflation to decline from 8.7 percent in 2022 to 7.0 percent in 2023.
All countries around the world have been faced with higher prices as a result of supply shocks from Russia’s invasion of Ukraine.