The IMF expects global growth to slow from 3.5% in 2025 to 3.1% in 2026, before recovering to 3.4% in 2027. Higher energy costs are the main cause, with oil assumed to average $95.74 a barrel, up 41.3%. Global inflation rises to 4.7% before easing. The United States holds at 2.3%, while the euro area manages only 1.1%. China slows toward 4%, India stays near 7%. The Fund warns policy buffers are now thin.