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 |
---|---|
JPN | -0.0016 |
NOR | 0.014173 |
CHE | 0.01475 |
NLD | 0.01691 |
GRC | 0.01806 |
FRA | 0.018085 |
ITA | 0.019159 |
MEX | 0.022772 |
DEU | 0.023085 |
BEL | 0.02426 |
ESP | 0.024595 |
KOR | 0.026003 |
COL | 0.027358 |
LUX | 0.02815 |
ISR | 0.0285 |
DNK | 0.030457 |
AUT | 0.031292 |
Non-US median | 0.031292 |
CAN | 0.033041 |
SWE | 0.033199 |
FIN | 0.033758 |
GBR | 0.03608 |
IRL | 0.036566 |
Non-US average | 0.036831 |
USA | 0.038027 |
SVN | 0.040865 |
ISL | 0.042115 |
LVA | 0.042944 |
PRT | 0.051002 |
HUN | 0.054954 |
EST | 0.064302 |
POL | 0.065441 |
CHL | 0.065947 |
LTU | 0.069453 |
SVK | 0.076997 |
CZE | 0.101539 |
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).