eurozone inflation is on the rise headline inflation jumped to 49 yearonyear in november reaching its highest level ever meanwhile energy inflation continues its relentless advance rising to 275 from 237 in october these upside surprises have caused many analysts to upgrade their inflation forecasts for 2022 the european central bank said it sees headline inflation averaging 32 next year almost double its previous forecast at 17 two thirds of this upgrade is based on the assumption of higher energy inflation according to ecb president christine lagarde pantheon macroeconomics forecasts eurozone headline inflation will be at 27 in 2022 03 percentage points up from previous estimates pantheon sees inflation at 48 in december before a fall to around 35 in the first quarter taking into account recent inflationdata surprises and energymarket pricing barclays has also raised its eurozone inflation projection for 2022 barclays forecasts the blocs annual inflation rate will average 34 in 2022 1 percentage point higher than its previous forecast in the near term goldman sachs continues to expect upward pressure in goods prices amid high raw material costs due to supply chain disruptions and rising transport costs from elevated energy prices however gs says eurozone headline inflation peaked in november and will decrease sharply in january 2022 to 37 yearonyear as base effects wash out looking beyond the near term goldman sachs expects underlying inflation pressures to build gradually pushing eurozone headline inflation to 17 yearonyear on a sustainable basis at the end of 2024