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).