In June 2022, both U.S. and G20 inflation reached 9.1%, according to monthly inflation data from OECD. However, the EU and the U.S. diverged from the G20 trajectory that month.
The EU experienced a continuous rise in inflation until October 2022, while the U.S. maintained alignment with the G20 trend.
Interestingly, for December 2023, both the U.S. and the EU had the same monthly inflation rate of 3.4 percent while the November (most recent) inflation for G20 was 5.8 percent.
In my next graph:
- From August 2023, inflation fell sharply for the European Union but which member country contributed to this decline?
What if we added Argentina and Türkiye to this analysis: will it significantly alter the chart?
- I'll save that for next week!