Learning English - Words in the News
18 July, 2008 - Published 09:51 GMT
IMF worried about rising prices
The International Monetary Fund (IMF) says that the rising of prices is becoming more of a problem. In a new forecast for the global economy, the IMF says that limiting price rises should be a top priority for governments. Our economics correspondent Andrew Walker reports:
The IMF says the global economy is in a tough spot, caught between sharply slowing growth in many developed economies and rising inflation everywhere. The agency's chief economist Simon Johnson said this is a very difficult moment for policy makers in almost every country. The IMF is becoming increasingly concerned about inflation.
Mr Johnson said the acceleration of price rises is a serious negative development. It's partly due to the rising food and energy prices, especially oil. But the IMF says that economic policy in some developing countries is also a factor.
The report predicts a modest slowdown in growth in the developing nations and Mr Johnson says that unless they take action to prevent inflation rising further the outcome could be substantially worse.
Andrew Walker, BBC economics correspondent
a tough spot
increasingly concerned about
a serious negative development
a modest slowdown
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