Persistent inflation, above pre crisis levels, except for China
![Inflation above pre-crisis levels](https://static.amundi.com/web-assets/awf-assets/research-center/styles/max_1300x1300/s3/2022-02/RC---2022.02---Market-Story-Inflation---EN_0.png.webp?itok=ms7-CRX2)
Source: Amundi Research. Data is as of 31 January 2022. Forecasts are by Amundi Research and are as of 21 January 2022. CPI: consumer price index, average % YoY growth.
Inflationary pressures should prove persistent in 2022, especially early in the year. We expect US CPI to be 5.0% on average and the Eurozone’s should remain well above 3.0% this year. China’s situation is different though, as CPI slowed to 0.9% YoY in 2021 and should only accelerate mildly in 2022.