The chart on the left shows the forecasts for economic growth in the major regions around the world and how those forecasts have changed since the start of the year. Headwinds from inflation and COVID are expected to cool 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.