July, 19 (Agencies) — Asian Development Bank cut its inflation forecast for developing Asia Wednesday as food and fuel prices eased, supply chain disruptions waned and interest rate hikes started to bite.Inflation, which has squeezed household budgets and left millions of poor households struggling to put food on the table, is heading back towards pre-Covid levels, the Philippines-based lender said.It expects inflation of 3.6 percent this year, compared with its forecast in April of 4.2 percent as prices in China ease sharply, the bank said in its flagship outlook report.Developing Asia refers to the multilateral lender’s 46 emerging member economies, stretching from Kazakhstan in Central Asia to the Cook Islands in the Pacific.ADB kep...
July 19, 2023 at 7:47 pm | Economic Affairs