The IMF cut 2026 global growth to 3.0 percent and raised inflation to 4.7 percent

The IMF's July update, published on July 8, was covered by Cris Tolomia at Quartz. The Fund put 2026 global growth at 3.0 percent, down 0.1 point from its April projection of 3.1 percent, and raised 2027 to 3.4 percent from 3.2 percent. Headline inflation is now seen rising to 4.7 percent this year from 4.1 percent in 2025, then falling to 3.9 percent in 2027, a 2026 markup of 0.3 points that the Fund attributed to energy and food costs. Energy prices are running about 25 percent above pre-conflict levels, and the Fund assumed an average of $89 a barrel for 2026. Saudi Arabia's 2026 growth estimate was cut 1.4 points, to 1.7 percent. South Korea grew 7.5 percent annualised in the first quarter.