The I.M.F. upgraded its projection for output in the United States this year to 2.8 percent from an earlier estimate of 2.6 percent, as a result of stronger consumer spending and higher wages. Economic growth is projected to slow to 2.2 percent in 2025.

The global war against inflation has largely been won — and at surprisingly little cost to economic growth, the International Monetary Fund declared Tuesday. In its latest assessment of the global economy,

Policymakers in the U.S. and other major economies have quelled the worst inflation in four decades without tumbling into recession, the International Monetary Fund said Tuesday.

The good news for the global economy is that the battle against inflation has largely been won, said Pierre-Olivier Gourinchas, the chief economist of the International Monetary Fund, on Tuesday.

High inflation has mostly been defeated around the world, the International Monetary Fund said Tuesday, providing a surprisingly upbeat assessment on prices after warning only three months ago that progress on reducing inflation had stalled.

The International Monetary Fund projects global headline inflation will fall to 3.5% year-over-year by the end of 2025 from 5.8% in 2024 Rising market volatility was among the risks the agency highlighted to global growth A spike in commodity prices would especially hurt lower-income nations,