IMF: Israel-Hamas war may lead to higher inflation

At the Regional Economic Outlook for Asia and Pacific press conference, Krishna Srinivasan, IMF Director for Asia and Pacific Department, said they are still assessing the effect of the conflict on the global economy. But she said it could potentially lead to a rise in the prices of oil, and eventually raise prices of goods in many parts of the world.

Inflation quickened for a second straight month in September as food prices rose, despite the government imposing a price cap on rice. Among the reasons are the geopolitical conflicts like the wars in Ukraine-Russia and Israel-Hamas, the worsening property crisis in China, and the tightening of monetary policies worldwide.

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