Figure A
The acceleration of inflation is global: Difference in core inflation rates from December 2020 to May 2022 compared with 2 years pre-pandemic “normal” inflation
| Country | Inflation acceleration |
|---|---|
| Czech Republic | 10.15 |
| Slovakia | 7.70 |
| Lithuania | 6.95 |
| Chile | 6.59 |
| Poland | 6.54 |
| Estonia | 6.43 |
| Hungary | 5.50 |
| Portugal | 5.10 |
| Latvia | 4.29 |
| Iceland | 4.21 |
| Slovenia | 4.09 |
| United States | 3.80 |
| Non-U.S. average | 3.68 |
| Ireland | 3.66 |
| United Kingdom | 3.61 |
| Finland | 3.38 |
| Sweden | 3.32 |
| Canada | 3.30 |
| Austria | 3.13 |
| Non-U.S. median | 3.13 |
| Denmark | 3.05 |
| Israel | 2.85 |
| Luxembourg | 2.82 |
| Colombia | 2.74 |
| South Korea | 2.60 |
| Spain | 2.46 |
| Belgium | 2.43 |
| Germany | 2.31 |
| Mexico | 2.28 |
| Italy | 1.92 |
| France | 1.81 |
| Greece | 1.81 |
| Netherlands | 1.69 |
| Switzerland | 1.48 |
| Norway | 1.42 |
| Japan | -0.16 |
Note: Inflation “acceleration” is percentage-point difference between post-pandemic inflation (annualized rate of change in core CPI, Dec. 2020–May 2022) and pre-pandemic inflation (2018–2019).
Source: Organisation for Economic Co-operation and Development (OECD)
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