2017 Inflation Forecast
Chart of the Week for June 24, 2016 - June 30, 2016
The Organisation for Economic Co-Operation and Development ("OECD") gathers economic data from countries around the world and publishes forecasts and other data on global and individual country economic indicators. The chart above shows the OECD 2017 inflation forecast, as measured by the Consumer Price Index, for the U.S., China, Japan, United Kingdom, a selection of fifteen Eurozone countries, and their World Forecast.
Inflation is measured by changes in average retail prices of a fixed basket of goods and services representing household consumption. As the chart indicates, Japan (2.1%) and the U.S. (2.0%) are very close to the inflation growth forecast for the OECD World (2.0%), while the UK (1.6%) and the Eurozone Countries (1.2%) are slightly below the OECD World forecast. The rate of change in inflation is an important monitoring tool for Central Banks around the world, and some economists believe that the U.S Federal Reserve may have to raise interest rates more rapidly than anticipated in 2017, while the Eurozone and the Bank of Japan may continue with their current path of monetary easing into 2017.
Posted by: sarah_oz@yahoo.com
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