Inflation increased in most advanced economies
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.
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. ■