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The US Inflation Rate and Uncertainty
In the US, inflation did peak back in June and it's come down. In Europe, the situation was a bit different because of the closeness to the events that had been taking place in Ukraine. The mild winter has allowed Europe to reach a very good place with respect to natural gas storage right now. We actually think inflation in Europe will also be around 3.5% of the end of the year, like in the United States. But it's going to take some policy tightening in order to bring that about.