According to the Federal Reserve, the United States' inflation rate will reach 7.9% in the first quarter of 2022. Since January 1982, when the rate rose to 7.5%, this is the highest inflation rate since 1982. According to the same forecast, inflation will reach 8% in February 2019. The Federal Reserve will continue to raise interest rates, so inflation will remain above that level.

The global inflation rate in 2022 was 6.9%, according to the International Monetary Fund (IMF). This was a significant increase from the 4.7% inflation rate in 2021. The rise in inflation was due to a number of factors, including the war in Ukraine, supply chain disruptions, and the COVID-19 pandemic.