Monthly International Indexes of Consumer Prices

August 2014

2 Oct. 2014

Back to ILC Homepage

Archived Reports

Monthly ILC reports will be discontinued; related data available via other programs   

Beginning October 1, The Conference Board will no longer issue monthly International Labor Comparisons (ILC) reports on consumer prices and employment. This step will allow The Conference Board to dedicate more resources to continuing and strengthening of the annual ILC reports on labor compensation, productivity and competitiveness. The underlying data tables on monthly consumer prices and employment will continue to be published on this site and on International Unemployment Rates and Employment Indexes through December 2014 (see schedule through December). Beginning January 1, 2015, related data series will be available via the Business Cycle Indicators program on a subscription basis. Historical monthly and annual datasets, will remain publicly available on The Conference Board website.


                                      More Information about Consumer Prices


What is the Difference between the CPI and the HICP?
Why Do We Care about Inflation?

Insight Minute Video: Will deflation affect your investment decisions?

In August 2014, annual inflation as measured by the Harmonized Index of Consumer Prices (HICP) decreased in 10 of the 16 countries compared.  However, after two months of deflation, Switzerland’s inflation rate returned to positive territory.  Deflationary pressures continued to mount in Europe as Spain saw deflation for two consecutive months and Italy experienced deflation in August for the first time since July 2009.  See Table 1 and Table 2.  

While inflation in the Euro Area remained stable in August, inflation was at its lowest level (0.4 percent) since experiencing deflation in October 2009.

August inflation remains below 1 percent in all Euro Area countries compared, except Austria (1.5 percent). Inflation is also above 1 percent in Japan (4.1 percent), Norway (1.9 percent), the United Kingdom (1.5 percent) and the US (1.4 percent).  Japan, Denmark, and the United States all saw a higher inflation rate in August than one year ago.  See Table 1.

Table 1. HICP-based annual inflation rate, 2012 - 2014

Harmonized Indexes of Consumer Prices (HICP), percent change from the previous year

 20122013Aug-13Jun-14Jul-14Aug-14
United States 2.2 1.3 1.3 1.9 1.8 1.4
Austria 2.6 2.1 2.0 1.7 1.7 1.5
Belgium 2.6 1.2 1.1 0.7 0.6 0.4
Denmark 2.4 0.4 0.1 0.4 0.5 0.3
Euro Area 2.5 1.3 1.3 0.5 0.4 0.4
European Union 2.6 1.5 1.5 0.7 0.5 0.5
France 2.2 1.0 1.0 0.6 0.6 0.5
Germany 2.2 1.6 1.6 1.0 0.8 0.8
Italy 3.3 1.3 1.2 0.2 0.0 -0.2
Japan 0.0 0.5 1.1 4.4 4.1 4.1
Netherlands 2.8 2.6 2.8 0.3 0.3 0.4
Norway 0.4 1.9 3.3 1.8 2.2 1.9
Spain 2.4 1.5 1.6 0.0 -0.4 -0.5
Sweden 0.9 0.4 0.8 0.5 0.4 0.2
Switzerland -0.8 0.1 0.4 -0.1 -0.1 0.1
United Kingdom 2.8 2.5 2.7 1.9 1.6 1.5
Note: The harmonized index of consumer prices (HICP) is an internationally comparable measure of consumer price inflation. Underlying HICPs are from the national statistical agencies of the countries compared and from the European Commission (Eurostat). Inflation rates are calculated by The Conference Board.
For more information, see the Technical Notes and Country Notes. 
Source: The Conference Board, International Labor Comparisons program 

 

Table 2. Change in HICP-based annual inflation rate, 2012 - 2014

Harmonized Indexes of Consumer Prices (HICP), percentage point change in inflation from the previous period

 20122013Aug-13Jun-14Jul-14Aug-14
United States -1.7 -0.9 -0.5 -0.1 -0.1 -0.4
Austria -1.0 -0.5 -0.1 0.2 0.0 -0.2
Belgium -0.8 -1.4 -0.5 -0.1 -0.1 -0.2
Denmark -0.3 -2.0 -0.3 0.1 0.1 -0.2
Euro Area -0.2 -1.2 -0.3 0.0 -0.1 0.0
European Union -0.5 -1.1 -0.2 0.1 -0.2 0.0
France -0.1 -1.2 -0.2 -0.2 0.0 -0.1
Germany -0.3 -0.6 -0.3 0.4 -0.2 0.0
Italy 0.4 -2.0 0.0 -0.2 -0.2 -0.2
Japan 0.3 0.5 0.2 -0.1 -0.3 0.0
Netherlands 0.3 -0.2 -0.3 0.2 0.0 0.1
Norway -0.8 1.5 0.5 0.2 0.4 -0.3
Spain -0.7 -0.9 -0.3 -0.2 -0.4 -0.1
Sweden -0.5 -0.5 0.0 0.4 -0.1 -0.2
Switzerland -0.9 0.9 -0.1 -0.3 0.0 0.2
United Kingdom -1.7 -0.3 0.0 0.4 -0.3 -0.1
Note: The harmonized index of consumer prices (HICP) is an internationally comparable measure of consumer price inflation. Underlying HICPs are from the national statistical agencies of the countries compared and from the European Commission (Eurostat). Inflation rates are calculated by The Conference Board.
For more information, see the Technical Notes and Country Notes
Source: The Conference Board, International Labor Comparisons program 

 

Table 3. CPI-based annual inflation rate, 2012 - 2014

Consumer Prices Indexes (CPI), percent change from the previous year

 20122013Aug-13Jun-14Jul-14Aug-14
United States 2.1 1.5 1.5 2.1 2.0 1.7
Austria 2.5 2.0 1.7 1.9 1.8 1.7
Belgium 2.8 1.1 1.0 0.3 0.3 0.0
Canada 1.5 0.9 1.1 2.4 2.1 2.1
Denmark 2.4 0.8 0.4 0.5 0.8 0.5
France 2.0 0.9 0.9 0.5 0.5 0.4
Germany 2.0 1.5 1.5 1.0 0.8 0.8
Italy 3.0 1.2 1.2 0.3 0.1 -0.1
Japan 0.0 0.3 0.9 3.6 3.4 3.3
Netherlands 2.5 2.5 2.8 0.9 0.9 1.0
Norway 0.8 2.1 3.2 1.9 2.2 2.1
Spain 2.4 1.4 1.5 0.1 -0.3 -0.5
Sweden 0.9 0.0 0.1 0.2 0.0 -0.2
Switzerland -0.7 -0.2 -0.1 0.1 0.0 0.1
United Kingdom 3.2 3.0 3.3 2.6 2.5 2.4
Note: The consumer price index (CPI) is a measure of consumer price inflation that is not strictly comparable across countries. Underlying CPIs are from the national statistical agencies of the countries compared. Inflation rates are calculated by The Conference Board. 
For more information, see the Technical Notes and Country Notes
Source: The Conference Board, International Labor Comparisons program 

 

Table 4. Change in CPI-based annual inflation rate, 2012 - 2014

Consumer Price Indexes (CPI), percentage point change in inflation from the previous period

 20122013Aug-13Jun-14Jul-14Aug-14
United States -1.1 -0.6 -0.5 0.0 -0.1 -0.3
Austria -0.8 -0.5 -0.3 0.1 -0.1 -0.1
Belgium -0.7 -1.7 -0.5 -0.1 0.0 -0.3
Canada -1.4 -0.6 -0.2 0.1 -0.3 0.0
Denmark -0.4 -1.6 -0.2 0.0 0.3 -0.3
France -0.1 -1.1 -0.2 -0.2 0.0 -0.1
Germany -0.1 -0.5 -0.4 0.1 -0.2 0.0
Italy 0.2 -1.8 0.0 -0.2 -0.2 -0.2
Japan 0.3 0.3 0.2 -0.1 -0.2 -0.1
Netherlands 0.2 0.0 -0.3 0.1 0.0 0.1
Norway -0.4 1.3 0.2 0.1 0.3 -0.1
Spain -0.8 -1.0 -0.3 -0.1 -0.4 -0.2
Sweden -2.1 -0.9 0.0 0.4 -0.2 -0.2
Switzerland -1.0 0.5 -0.1 -0.2 -0.1 0.1
United Kingdom -2.0 -0.2 0.2 0.2 -0.1 -0.1
Note: The consumer price index (CPI) is a measure of consumer price inflation that is not strictly comparable across countries. Underlying CPIs are from the national statistical agencies of the countries compared. Inflation rates are calculated by The Conference Board. 
For more information, see the Technical Notes and Country Notes
Source: The Conference Board, International Labor Comparisons program 

 

International Indexes of Consumer Prices 2014 Publication Schedule

Thursday, November 6 (Data for September 2014)
Thursday, December 4 (Data for October 2014)

Member Exclusive

The Conference Board Help Wanted Online® Members Login

Monthly Consumer Prices - Download Related Products

Monthly CPI and HICP

Data Tables

Technical Notes

Country Notes

Annual CPI and HICP

Full Report

Data Tables

Economic Indicators

U.S. Indicators Global Indicators
Back to Top