Monthly International Indexes of Consumer Prices

June 2014

4 September 2014

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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.

The underlying data tables 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.

The Conference Board has maintained the International Labor Comparisons program—previously part of the U.S. Bureau of Labor Statistics—since July 2013. Annual ILC reports on labor costs, productivity and competitiveness, as well as all historical monthly and annual datasets, will remain publicly available on The Conference Board website. A greater emphasis on ILC annual reports will allow The Conference Board to further integrate the ILC program into its Economy and Business Environment practice, to be used in research, comparison, and planning in a global context.


                                      More Information about Consumer Prices


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

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In June 2014, annual inflation as measured by the Harmonized Index of Consumer Prices (HICP) decreased in the US and Japan and was mixed across Euro Area countries compared. Although inflation remained steady in the Euro Area as a whole, price growth slowed in Belgium, France, Italy, and Spain, while it accelerated in Germany, Austria, and the Netherlands. Outside the Eurozone, Sweden, the United Kingdom, Norway, and Denmark also experienced rising prices.  See Table 1 and Table 2.

In Japan, inflation slowed slightly for the first time since the national sales tax hike in April. Switzerland experienced the largest decline in inflation, returning to deflationary territory after two months of positive price growth.June inflation remains below 1 percent in all Euro Area countries compared, except Austria (1.7 percent) and Germany (1.0 percent). Inflation is also above 1 percent in Japan (4.4 percent), the US (1.9 percent), the United Kingdom (1.9 percent), and Norway (1.8 percent). June inflation was lower than price growth a year ago in all countries shown except Japan and the US.  See Table 1.

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

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

 20122013  June 13Apr. 14 May 14 June 14
United States 2.2 1.3 1.7 1.8 2.0 1.9
Austria 2.6 2.1 2.2 1.6 1.5 1.7
Belgium 2.6 1.2 1.5 0.9 0.8 0.7
Denmark 2.4 0.4 0.6 0.5 0.3 0.4
Euro Area 2.5 1.3 1.6 0.7 0.5 0.5
European Union 2.6 1.5 1.7 0.8 0.6 0.7
France 2.2 1.0 1.0 0.8 0.8 0.6
Germany 2.2 1.6 1.9 1.1 0.6 1.0
Italy 3.3 1.3 1.4 0.5 0.4 0.2
Japan 0.0 0.5 0.3 4.1 4.5 4.4
Netherlands 2.8 2.6 3.2 0.6 0.1 0.3
Norway 0.4 1.9 1.9 1.5 1.6 1.8
Spain 2.4 1.5 2.2 0.3 0.2 0.0
Sweden 0.9 0.4 0.5 0.3 0.1 0.5
Switzerland -0.8 0.1 0.2 0.1 0.2 -0.1
United Kingdom 2.8 2.5 2.9 1.7 1.5 1.9
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

 20122013  June 13Apr. 14 May 14 June 14
United States -1.7 -0.9 0.5 0.6 0.2 -0.1
Austria -1.0 -0.5 -0.2 0.2 -0.1 0.2
Belgium -0.8 -1.4 0.4 0.0 -0.1 -0.1
Denmark -0.3 -2.0 0.0 0.3 -0.2 0.1
Euro Area -0.2 -1.2 0.2 0.2 -0.2 0.0
European Union -0.5 -1.1 0.1 0.2 -0.2 0.1
France -0.1 -1.2 0.1 0.1 0.0 -0.2
Germany -0.3 -0.6 0.3 0.2 -0.5 0.4
Italy 0.4 -2.0 0.1 0.2 -0.1 -0.2
Japan 0.3 0.5 0.6 2.1 0.4 -0.1
Netherlands 0.3 -0.2 0.1 0.5 -0.5 0.2
Norway -0.8 1.5 0.1 -0.3 0.1 0.2
Spain -0.7 -0.9 0.4 0.5 -0.1 -0.2
Sweden -0.5 -0.5 0.2 0.7 -0.2 0.4
Switzerland -0.9 0.9 0.4 0.2 0.1 -0.3
United Kingdom -1.7 -0.3 0.2 0.0 -0.2 0.4
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

 20122013  June 13Apr. 14 May 14 June 14
United States 2.1 1.5 1.8 2.0 2.1 2.1
Austria 2.5 2.0 2.2 1.6 1.8 1.9
Belgium 2.8 1.1 1.6 0.6 0.4 0.3
Canada 1.5 0.9 1.2 2.0 2.3 2.4
Denmark 2.4 0.8 0.9 0.7 0.5 0.5
France 2.0 0.9 0.9 0.7 0.7 0.5
Germany 2.0 1.5 1.8 1.3 0.9 1.0
Italy 3.0 1.2 1.2 0.6 0.5 0.3
Japan 0.0 0.3 0.2 3.4 3.7 3.6
Netherlands 2.5 2.5 2.9 1.2 0.8 0.9
Norway 0.8 2.1 2.1 1.8 1.8 1.9
Spain 2.4 1.4 2.1 0.4 0.2 0.1
Sweden 0.9 0.0 -0.1 0.0 -0.2 0.2
Switzerland -0.7 -0.2 -0.2 0.1 0.3 0.1
United Kingdom 3.2 3.0 3.3 2.5 2.4 2.6
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

 20122013  June 13Apr. 14 May 14 June 14
United States -1.1 -0.6 0.4 0.5 0.1 0.0
Austria -0.8 -0.5 -0.1 -0.1 0.2 0.1
Belgium -0.7 -1.7 0.4 -0.3 -0.2 -0.1
Canada -1.4 -0.6 0.5 0.5 0.3 0.1
Denmark -0.4 -1.6 0.0 0.3 -0.2 0.0
France -0.1 -1.1 0.1 0.1 0.0 -0.2
Germany -0.1 -0.5 0.3 0.3 -0.4 0.1
Italy 0.2 -1.8 0.1 0.2 -0.1 -0.2
Japan 0.3 0.3 0.5 1.8 0.3 -0.1
Netherlands 0.2 0.0 0.1 0.4 -0.4 0.1
Norway -0.4 1.3 0.1 -0.2 0.0 0.1
Spain -0.8 -1.0 0.4 0.5 -0.2 -0.1
Sweden -2.1 -0.9 0.1 0.6 -0.2 0.4
Switzerland -1.0 0.5 0.4 0.1 0.2 -0.2
United Kingdom -2.0 -0.2 0.2 0.0 -0.1 0.2
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, September 4 (Data for July 2014)
Thursday, October 2 (Data for August 2014)
Thursday, November 6 (Data for September 2014)
Thursday, December 4 (Data for October 2014)

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