Inflation Increased in Most Advanced Economies
NEW YORK, Jan. 10, 2014 /PRNewswire/ — In November, inflation as measured by the Harmonized Index of Consumer Prices (HICP) increased in 10 of 16 countries and areas compared.
Japan and Germany experienced the largest increase in inflation (0.4 percentage points), followed by the U.S. (0.3 percentage points). Price growth remained stable in Denmark, Norway and Austria, and slowed in Italy, the United Kingdom, and the Netherlands.
After three consecutive months of slowing annual inflation, price growth increased slightly in the Euro Area and the European Union.
November inflation was lowest in Switzerland and Spain, and highest in Norway, the United Kingdom andJapan. “Other than the commodity driven spike in 2008, Japanese inflation in November (1.9 percent) was the highest since March 1998,” said Elizabeth Crofoot, Senior Economist with the International Labor Comparisons program at The Conference Board. “While U.S. price growth accelerated modestly in November, inflation in the Euro Area, and in the European Union as a whole, still remains at historically low levels.”
