Monitor the impact of inflation on discretionary and essential products across 10 countries. Visualise, compare and track changes in product price and availability. See how e-commerce data can support your business strategy. Watch a demonstration of how to use the tracker.
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Get an update on global economic performance in 2024. You'll find the latest projections for GDP growth and inflation to support your strategic planning in this report extract.
First months of 2024 saw a year-on-year easing in many commodity prices, as soft global demand weighed on energy prices and prospects of adequate crop supply capped agrifood price growth. However, geopolitical shocks sparked turbulence in the oil market and drove up gold prices, while rising supply concerns fuelled a rally in copper.
The global economic outlook continues to improve, as easing inflation, improved supply conditions and strong labour markets in advanced economies support real income gains, consumer spending and other economic activities in the first quarter of 2024.
Global inflationary pressures are forecast to moderate further in 2024. Under the baseline scenario, global inflation is forecast to stand at 5.4% in 2024 and trend down further to 3.6% in 2025. Lower energy prices, slower consumption growth and normalisation of manufactured goods prices are contributing to lower inflationary pressures.
The share of private label sales in Latin America remains far below that of developed regions such as Western Europe and North America, indicating there is further opportunity for growth. Euromonitor International has examined the main reasons for the growth of private label in Latin America.
This year’s commodity market outlook remains highly uncertain. As consumers and businesses continue to grapple with lingering cost pressures and high interest rates, subdued global economic activity is set to translate into softer commodity demand.