APAC Capital Markets Midyear Outlook 2024

“LAST MILE” INFLATION SLOWLY COMING UNDER CONTROL

CPI growth (% y-o-y)

Peak

May-23 Dec-23

Jun-23 Jan-24

Jul-23

Aug-23 Mar-24

Sep-23 Apr-24

Oct-23 May-24

Estimated inflation target

Nov-23

Feb-24

14

12

10

8

6

4

2

0

-2

10

Source: Various Central Banks; Cushman & Wakefield