In the Eurozone, but also in the United Kingdom and the United States, the year-on-year variation in consumer prices has fallen back or stabilised in the last few months. This trend is mainly the result of a base effect, as consumer prices for the most part are continuing to increase from month to month but less rapidly than a year earlier. Given the vigorous momentum in prices in 2022, these base effects are likely to be even greater this year and have a significant downward impact on inflation in H1 2023...