No Inflation Pressure Worldwide

To get an idea of what the approximate "inflation temperature" is around the world, we do a very simple exercise of averaging the year-over-year percentage change in CPI and PPI in a variety of countries around the world. We do our best to capture every major country that produces these economic statistics. In all, we average the year-over-year percentage in CPI in 33 countries and the PPI in 22 counties. As the two charts below indicate inflation is low on a global basis.