Economies around the world grew quickly in 2021: 5.7 percent in the US, 8.1 percent in China, 5.2 percent in the eurozone, 9 percent in India. As economies have heated up, consumer inflation has soared, reaching 7.1 percent in the US in December. Producer price inflation has also risen sharply, particularly in the eurozone.

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To read the article, see “Global Economics Intelligence executive summary,” February 7 2022.