Inflation Increased in Most Advanced Economies Japan, Germany and U.S. Experience Largest Increase
NEW YORK, Jan. 9, 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 and Japan. "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."
About HICP and International Labor Comparisons (ILC)
Harmonized Indexes of Consumer Prices are measures of consumer price inflation that have been standardized across countries based on European Union definitions. A monthly report compiles HICP trends for 16 economies, alongside conventional Consumer Price Indexes (CPI) as measured by national governments. The Conference Board adjusts official HICP and CPI metrics to a common base year to facilitate comparison with the United States.
The data is published as part of The Conference Board International Labor Comparisons program. Formerly a division of the U.S. Bureau of Labor Statistics, ILC is dedicated to producing economic indicators that optimize research, comparison, and planning in a global context.
For more information about The Conference Board ILC program:
For the associated report, tables, and technical notes, see
International Indexes of Consumer Prices
About The Conference Board
The Conference Board is an independent business membership and research association working in the public interest. Our mission is unique: To provide the world's leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. www.conference-board.org.
SOURCE The Conference Board