World CPIs

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Volume 23 – World CPIs

This volume surveys inflation (as measured by the local Consumer Price Index) in nine foreign countries.

All charts in this volume use monthly data (Australia is quarterly data that we have interpolated to monthly figures).

There are four charts of each of these three groups of countries.

United Kingdom, France and Germany – European countries
Mexico, Australia and Canada – Resource-based economies
Hong Kong, Japan and Singapore – Pacific countries

CPIs – Comparable Log Scale

Each of the first three charts (one chart per group of countries) shows three Consumer Price Indexes on a portrait Comparable Log Scale chart that starts in 1950 (example below). This chart format allows the viewer to compare the cumulative effects of inflation over the last forty-seven years.

Chart V23a, Comp-Log of European CPIs (3kb)

The steeper the CPI line, the greater the inflation rate.

On a Comparable Log Scale chart, the steepness, and length of advances is directly comparable.

This is a 3kb thumbnail!
It would take
over sixty full SVGA screens to show the detail on one Topline chart.

The real charts look much better than these thumbnails.

Inflation Rates

Each of these three charts (one chart per group of countries) depicts the inflation rates of three countries. These are three-panel, portrait charts with arithmetic scales on all three panels.
Inflation Rate: annual rate of change of each country's CPI.

Inflation Rates versus the United States

Each of these three charts (one chart per group of countries) depicts the inflation rates relative to the United States of three countries. These are three-panel, portrait charts with arithmetic scales on all three panels. For example the top panel of the first chart in this group shows the United Kingdom inflation rate minus the United States inflation rate. A zero line is drawn in each panel. When the data line is above the zero line, that country is experiencing more inflation than the United States. When it is below the zero line, that country is experiencing less inflation than the United States.

Coppock Curves of CPIs

The Coppock Curve is a front-weighted smoothing of momentum. The Coppock Curve of the CPI is similar to the inflation rate (raw momentum of CPI), but it does not have nearly as many "jiggles" (because of the smoothing). The Coppock Curve of the CPI reacts more quickly than a simple moving average of momentum because it is front-weighted. These are portrait, comparable log scaled charts (example below). Each of these three charts (one chart per group of countries) compares the Coppock Curves of CPI of three countries.

From this chart, you can see that after a post-WWII surge, German inflation has been low and relatively stable. The United Kingdom had the highest inflation of these three European countries. All three experienced a lower peak in the early 1980s than in the mid 1970s, unlike the US.

This is a 4kb thumbnail!
It would take
over sixty full SVGA screens to show the detail on one Topline chart.

The real charts look much better than these thumbnails.

Chart V23j, Coppock Curves of CPIs of the UK, France and Germany, (4kb GIF)

This volume was introduced in the December 1996 edition.

Other examples of Coppock Curves can be seen at:
Volume 16 – Coppock Curves
Volume 24 – Commodities (Grains & Softs)
Volume 25 – Commodities (Metals)
 

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Last modified: April 06, 2005