Cpi Report April

Economic Snapshot: Growth Resilient but Slow, Inflation Remains Elevated

Global Economic Outlook

According to the World Economic Outlook April 2024, global growth is resilient but recovering at a slow pace. The global economy is expected to grow by 3.2%, a modest increase from the 2.9% growth rate in 2023.

Inflationary Pressures

Consumer Price Index (CPI) data for April 2024 shows that inflation remains elevated. The CPI National for the month of April 2024 increased to 173.4, up from 161.0 in March 2024. The Urban CPI recorded an increase of 194.0, while the Rural CPI recorded an increase of 163.0.

This increase in inflation is driven by a number of factors, including the ongoing supply chain disruptions caused by the COVID-19 pandemic, as well as the war in Ukraine.

Outlook

Despite the challenges, the global economy is expected to continue to recover in 2024. Growth is likely to be supported by easing supply chain disruptions and the continued rollout of COVID-19 vaccines. However, inflation is likely to remain elevated in the near term, as the impacts of the war in Ukraine continue to ripple through the global economy.