When inflation in the US and Europe will return to the target
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Price growth in the largest developed countries in 2022 reached record levels over the past 40 years, in particular in the USA it exceeded 9%, in Europe it reached almost 11%. Global inflation is showing signs of peaking, but a likely slow retreat from multi-year highs means it will remain a challenge for central banks well into 2023, Bloomberg wrote on Friday, Dec. 2. The timing of the return of inflation to the goals of central banks in the world remains uncertain, the Bank of Russia notes in the Main Directions of Monetary Policy (MP) for 2023–2025.
For regulators, the recent peak “does not mean the worst is over,” said Tom Orlik, chief economist at Bloomberg. “Despite the decline, consumer prices will remain well above levels comfortable for central banks, which will require further tightening of monetary policy, even despite the looming risks of a recession,” he added.
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