The IMF expressed concern about the increased food prices.

Higher food and fertilizer prices are of great concern to the International Monetary Fund (IMF) as they pose a threat of malnutrition to low-income households, IMF Managing Director Kristalina Georgieva said on the website.

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“Increased prices for food and fertilizers are of great concern, especially for low-income households, for whom the threat of food security and malnutrition is much more persistent,” the head of the fund said in a released statement.

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Georgieva added that despite a downward trend in global inflation, overall inflation “still remains too high” and core inflation is hard to control despite significant monetary tightening efforts by central banks.

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Earlier in July, the head of the IMF said that the medium-term forecast for global economic growth of 3% is the “weakest” in decades, since historically this figure was 3.8%.