IMF’s Georgieva warns Middle East conflict could push global inflation higher

TOKYO: IMF Managing Director Kristalina Georgieva on Monday warned of inflation risks from the Middle East conflict, saying a 10% increase in oil prices, if persistent through most of the year, would result in a 40-basis-point increase in global inflation.

“We are seeing resilience tested again by the new conflict ⁠in the Middle East,” Georgieva said, speaking in a symposium hosted by Japan’s finance ministry. Monitoring Desk