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Economy

ADB cuts Asia's growth forecast to 4.6%, lifts inflation outlook

Ukraine war crimps growth, spurs price rises in emerging Asia

Indian workers carry sacks of food grains and vegetables onto a supply truck at a wholesale market in Kolkata on July 19.   © Getty Images

MANILA -- Developing Asia is expected to grow more slowly than initially predicted this year, as the prolonged war in Ukraine has pushed commodity prices higher and triggered monetary tightening, the Asian Development Bank said in a report published Thursday.

The region's gross domestic product is now forecast to grow by 4.6%, down from an April prediction of 5.2% growth, the multilateral lender said in an update to its flagship economic publication, the "Asian Development Outlook."

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