Monthly Briefing on the World Economic Situation and Prospects, No. 61

• Anaemic economic recovery is accompanied by tame?inflation in developed economies.
• ?GDP growth is stronger than expected in the United?States.
• ?Currencies in some emerging economies are under?pressure again.

Along with subdued economic recovery in developed economies?and moderated growth in emerging economies, the average global?consumer price inflation index fell to historical lows in 2013, indicating considerable slack in the global economy and the risk of?deflation in some countries. Global consumer price inflation (excluding food and energy) decelerated from an annual rate of 2.2 per?cent in the six months through March 2013 to a 1.8 per cent in the?six months through September 2013, with many countries close to?zero inflation, the lowest level on record (excluding 2009, the year?of Great Recession).

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