To this we should also add the tight labour markets in many countries, as well as the still relatively high transport costs and bottlenecks in global supply chains which, though easing, still generate significant cost-push pressures.
The leading central banks and international institutions forecast that inflation will trend above the long-term average and above the target level during 2023 and even 2024, while its return to the usual inflation level across the world is expected in 2025.