IMF Says 10% Oil Rise for Year Adds 40 Basis Points to Inflation

A 10% increase in energy prices that persists for a year would push global inflation up by 40 basis points and slow economic growth by 0.1-0.2%, International Monetary Fund Managing Director Kristalina Georgieva said.

“The world economy has been remarkably resilient. Shock after shock, and yet growth is at 3.3%,” Georgieva told Bloomberg Television’s Haslinda Amin in an interview on the sidelines of the IMF’s “Asia in 2050” conference in Bangkok. “But this resilience is being tested yet again.”