October inflation figures from around the world have been released this week, and certainly among most of the advanced economies, headline inflation has remained at near-zero (it was 0.2% in the US, 0.1% in the Euro Area, and -0.1% in the UK).
Last week, we compared the latest UK recession and recovery to historical recessions. This week, we’re comparing the UK recovery to that of the US, where despite first quarter growth problems, the recovery from the recession looks strong.
Next week, Pete Comley is coming to speak to the ERC on “Inflationary Wave Theory”.
There has been a lot of new data released this week on the Euro Area, and all of it has been positive; unemployment continues to fall (slowly), inflation is back up to closer to 0%, and economic confidence is at its highest since 2011.
For the first time since they started recording the CPI measure of inflation, the rate of price growth has fallen to 0% (for February).
This week we’ve received two big bits of economic news: CPI inflation fell to just 0.3% in January, while earnings growth remained roughly steady at 1.7% in the three months to December.