The global inflation and cost-of-living crisis saw significant developments from 2024 to 2026. In January 2024, the UK experienced a notable decline in inflation, signaling potential relief. By May 2024, the IMF projected a global inflation decline, though rates remained high. In June 2025, the OECD revised inflation forecasts upwards due to trade barriers. Despite a decline in headline inflation by July 2025, the UN reported persistent cost-of-living strains. The IMF noted inflation divergence between economies in September 2025. The UK faced sharp cost increases in October 2025, termed 'Awful April.' Deloitte's December 2025 outlook warned of ongoing inflation concerns. By January 2026, the OECD reported a slowdown in food inflation. J.P. Morgan's February 2026 forecast highlighted regional inflation differences. Finally, the IMF's March 2026 report called for coordinated policy responses to address the crisis.
