The chart on the left shows the forecasts for economic growth in the major regions around the world. Headwinds from inflation, energy prices and tighter monetary policy cooled the global economy in 2022, but to different degrees around the world. 2023 will see a step down in growth in developed markets but less so in emerging ones. The chart on the right are forecasts for the path of headline inflation over the coming year and how close inflation is expected to get to central bank targets.