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Inflation may be past peak but cost of living crisis far from over: Experts

Inflation is likely to have reached its peak in 2022 but there is no end in sight for the cost of living crisis, experts said on Tuesday.

Speaking at a panel discussion during the World Economic Forum Annual Meeting 2023 here, they said those on low income and in the developing world will be grappling with high prices for years to come.

Gita Gopinath, Deputy Managing Director of the International Monetary Fund, said, "we do believe that, in terms of headline inflation for the global economy, we think it peaked in 2022." Participants agreed that inflation is inextricably linked to the cost of living crisis and tackling inflation is key to easing the cost crunch in the long run.