This chart shows inflation targets of various global central banks and the latest inflation. The blue horizontal line signals the midpoint of central bank target ranges, whereas the grey vertical line represents the target range. The purple diamond is the most recent inflation level and the green diamond is where inflation was 6 months ago. Inflation is above target or target range, but has started to slow for most economies. With inflation still significantly above target, especially for developed economies such as the U.S., eurozone, and the UK, this explains central banks' hawkishness lately and in the near term. In Asia, although inflation is above target in many economies, it is less extreme compared to other regions. The exception is China, where inflation is below target.