There was a welcome sharp fall in headline inflation in the Eurozone in March as the sharp jump in energy prices following the Russian invasion of Ukraine early last year started to drop out of the annual rate. Inflation fell to 6.9% from 8.5% in February and is now well below the peak level of 10.6% hit last October. Meanwhile, the Irish rate fell from 8.1% to 7.0% in March. US inflation is already well on its way down, with the headline CPI rate declining to 6% in February from a peak of 9.1% last summer.