Comparison of Inflation in selected countries- July, 2024 Edition

With the United Kingdom, Canada, and EUstats release of June data, I have updated my comparison graph. [Note, the USA(EU method) is directly from Eurostat]

Looking at the same period of time, for USA, EU(27), UK, USA(using EU methodology), results in the following...

Despite the current similarities, the timeframe has a considerable difference.

There are multiple factors involved in sorting out the variances in when inflation started.

• Clogged ocean shipping containers in wrong places.
• Massive stimulus
• Vaccine rollout
• Ukraine Invasion
• Perception of definite strikes at ports for July, 2022
• Timing of rate hikes

As for political considerations, the stimulus rollout could be considered political and there is whether the Ukraine invasion would have taken place. All other items would likely have occurred, imho.

In any case, the inflation situation has largely abated, so it is time to give this type of review... a rest.