WASHINGTON – The International Monetary Fund expects U.S. core inflation to peak in the first quarter, easing to 3.4% by the end of 2022 and dropping to the Federal Reserve’s average target of 2% in 2023, the IMF’s No 2. official told Reuters.
First Deputy Managing Director Gita Gopinath said the Euro area would likely see inflation rising for a couple of quarters, but getting close to the European Central Bank’s target of around 2% by the end of the year.
(Reporting by Andrea Shalal and David Lawder; Editing by Chris Reese)