Based on the chart, which answer best describes CPI numbers in terms of economic conditions?

Wo had inflation about $6\%$ above the desired target rate in $2022,$ with the rate expected to$,$ dedind ovir the hext two yeafs and drop below the target tate.

Wo had inflation aboet $6\%$ obove the desired target rate in $2022.$ with the fage expeced. to decline over the next two years but remain above the target rate.

Wo had thflation afout $8\%$ ablove the dosired target rate in $2022,$ with the rate expected to dedine over the noxt two yesin but remain well above the target rate.