REUTERS NEXT-World Bank's Malpass says inflation may be peaking in U.S., still 'daunting' elsewhere

Inflation may be peaking in the United States, but remains high and 'daunting' in other parts of the world, World Bank Group President David Malpass said on Thursday. Malpass told the Reuters NEXT conference that the global outlook pointed to slow growth and "stubbornly high" inflation, with a lot of countries facing the risk of recession next year. "The risk is that this may last for a long time.

Inflation may be peaking in the United States, but remains high and 'daunting' in other parts of the world, World Bank Group President David Malpass said on Thursday.

Malpass told the Reuters NEXT conference that the global outlook pointed to slow growth and "stubbornly high" inflation, with a lot of countries facing the risk of recession next year.

"The risk is that this may last for a long time. There's not a mechanism right now for the world to be providing capital or for the countries to be attracting capital," he said. "That's a giant concern at a time when food prices are high, and energy and fertilizer prices are high."