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
Notes: We calculate inflation “acceleration” as post-pandemic inflation minus “normal” pre-pandemic inflation. Post-pandemic inflation is constructed as an annualized rate of change in core CPI from December 2020 to May 2022. Pre-pandemic “normal” inflation is constructed with 2018 and 2019 data for each country.
Source: Inflation data from the Organization for Economic Cooperation and Development (OECD).