Will high inflation go away in 2023?

High prices: People shop at a wet market in Petaling Jaya. In the first 10 months of this year, headline inflation increased by 3.3% y-o-y while core inflation was up 2.8%.

WHAT goes up must come down.

Broadly, the market expects global inflation levels will be much lower in 2023, as higher interest rates cool consumer demand and tame inflation amid increasing risks of economic recession in advanced economies.