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Inflation peaked in 2022 before easing considerably in 2023 in most economies. For instance, the average inflation rate in the United States dropped from 8.0% in 2022 to around 4.1% in 2023, while in the eurozone it fell from 8.4% to nearly 5.6%.
The recent resilience of activity does not imply that the economic scenario for next year will be any better. In fact, it will most likely complicate the outlook for 2024.
