High inflation could be here to stay as commodity prices spike again after a 2-year decline, World Bank says
Inflation could see a resurgence in 2025, BlackRock strategists warned. Jonathan Kitchen/Getty Images High inflation will stay for longer as commodity prices rallied again after falling for two years, World Bank Group says. The bank expects global inflation to jump by a solid percentage point by 2024 due to the flip-flop oil prices driven by geopolitical risks. The multilateral lender also predicts Gold to surge to a record high in 2024, then ease off a bit in 2025. High inflation could be with us for a while as a key deflationary force wanes, the World Bank Group said, The World Bank said in a report on Thursday that the two-year decline in global commodity prices has come to a halt, and an escalation of conflict in the Middle East has reversed the downward trend in inflation. The report said commodity prices had dropped by roughly 40% between mid-2022 and mid-2023, bringing the global inflation rate down around by two percentage points over the past two years. However,