Crude prices will continue to ease as the wars are to be contained and the growths in major economies slow down. Inflation will reduce more dramatically as full impact from tightening monetary policies phases in.
I think inflation in the US and Canada will get down to below 3% by the year end if we exclude items such as mortgages and rentals where high policy rates have actually pushed up their payments.
Data dependent is a terrible approach as the policy makers choose to look backward instead of forward. For control systems with large time delays, it is almost impossible to maintain stability without forward control strategies.