Inflation May Not Come Back to Normal Levels Until 2025/2026

What we’re showing

This graphic shows inflation & interest rate forecasts for the U.S., UK, and Eurozone (the 20 EU nations that have adopted the euro as their currency). These figures come from S&P Global, and were published in April 2024.

Key takeaways

• S&P expects inflation in the U.S., UK, and the Eurozone to remain above the 2% target until 2025 or 2026
• The first rate cuts should come in the second half of 2024, with more gradual cuts coming in subsequent years