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. Inflation is above target or target range for most economies. Inflation is significantly above target, especially for developed economies such as the U.S., eurozone, and the UK, explaining 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 only exception is China, where inflation is just below target.