Higher global inflation forecast at 4.4 percent, up 0.6 points, driven by surging oil, gas and fertiliser costs.

High oil, gas and food prices could force growth to slow if the US-Israel conflict with Iran continues, the IMF says.

The International Monetary Fund has outlined three scenarios for further global economic developments, taking into account the war involving the United States, Israel, and Iran

The report notes that the worst-case "severe scenario," which assumes an extended conflict and high oil prices, would lead the world into another recession.

Middle East, emerging economies and UK particularly hit, as growth projected to fall and inflation to rise

Higher global inflation forecast at 4.4 percent, up 0.6 points, driven by surging oil, gas and fertiliser costs.

Conflict is pushing up price of energy and food, fuelling higher borrowing costs and hitting growth, report says