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| Policy analysis feature The World Economy at the Beginning of 1998 |
Table A.3. Developed economies: consumer price inflation, 1988-1998a
|
| 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997b | 1998c | |
| All developed economies | 3.1 | 4.3 | 4.9 | 4.3 | 3.2 | 2.7 | 2.3 | 2.3 | 2.2 | 2.0 | 2 |
| Major industrialized countries | 2.9 | 4.2 | 4.7 | 4.1 | 3.0 | 2.5 | 2.1 | 2.1 | 2.2 | 2.0 | 2 |
| Canada | 4.0 | 5.1 | 4.7 | 5.6 | 1.5 | 1.9 | 0.2 | 2.2 | 1.5 | 1.8 | 2 |
| France | 2.8 | 3.4 | 3.4 | 3.2 | 2.4 | 2.1 | 1.7 | 1.7 | 2.1 | 1.3 | 1.25 |
| Germany | 1.2 | 2.8 | 2.7 | 3.6 | 5.1 | 4.4 | 2.7 | 1.9 | 1.5 | 1.8 | 2 |
| Italy | 5.1 | 6.2 | 6.5 | 6.3 | 5.1 | 4.5 | 4.0 | 5.3 | 3.9 | 2.1 | 2.5 |
| Japan | 0.7 | 2.2 | 3.1 | 3.3 | 1.7 | 1.2 | 0.7 | -0.1 | 0.2 | 1.3 | 0.5 |
| United Kingdom | 4.8 | 7.8 | 9.5 | 5.9 | 3.7 | 1.6 | 2.5 | 3.4 | 2.5 | 2.9 | 3.25 |
| United States | 4.0 | 4.9 | 5.4 | 4.2 | 3.1 | 2.7 | 2.6 | 2.8 | 3.2 | 2.4 | 2.5 |
| Other industrialized countries | 4.2 | 5.3 | 6.3 | 5.5 | 4.2 | 3.9 | 3.3 | 3.4 | 2.6 | 1.9 | 2.5 |
| Australia | 7.3 | 7.5 | 7.3 | 3.2 | 1.0 | 1.8 | 1.9 | 4.7 | 2.6 | 0.6 | 3.25 |
| Austria | 1.9 | 2.5 | 3.3 | 3.3 | 4.1 | 3.6 | 3.0 | 2.3 | 1.8 | 1.6 | 2 |
| Belgium | 1.2 | 3.1 | 3.4 | 3.2 | 2.4 | 2.7 | 2.4 | 1.4 | 2.1 | 1.7 | 2 |
| Denmark | 4.6 | 4.7 | 2.7 | 2.4 | 2.1 | 1.3 | 2.0 | 2.0 | 2.2 | 2.3 | 2.5 |
| Finland | 5.1 | 6.6 | 6.2 | 4.1 | 2.6 | 2.2 | 1.1 | 0.9 | 0.6 | 1.1 | 2 |
| Greece | 13.5 | 13.8 | 20.3 | 19.5 | 15.8 | 14.5 | 10.9 | 8.9 | 8.2 | 5.8 | 5 |
| Iceland | 25.8 | 20.8 | 15.5 | 6.8 | 3.9 | 4.1 | 1.6 | 1.6 | 2.3 | 2.2 | 2.5 |
| Ireland | 2.2 | 4.1 | 3.3 | 3.2 | 3.1 | 1.4 | 2.3 | 2.5 | 1.7 | 1.3 | 1.5 |
| Malta | 0.9 | 0.8 | 3.0 | 2.5 | 1.7 | 4.1 | 4.2 | 4.0 | 2.6 | 2.8 | 3.5 |
| Netherlands | 0.8 | 1.0 | 2.5 | 3.1 | 3.2 | 2.6 | 2.8 | 2.0 | 2.1 | 2.2 | 2.75 |
| New Zealand | 6.4 | 5.7 | 6.0 | 2.6 | 1.0 | 1.4 | 1.7 | 3.8 | 2.6 | 1.7 | 2 |
| Norway | 6.7 | 4.5 | 4.2 | 3.4 | 2.3 | 2.3 | 1.5 | 2.5 | 1.2 | 2.7 | 3.25 |
| Portugal | 9.5 | 12.6 | 13.4 | 11.4 | 8.9 | 6.8 | 4.9 | 4.1 | 3.2 | 2.3 | 2.75 |
| Spain | 4.8 | 6.8 | 6.7 | 5.9 | 6.0 | 4.6 | 4.8 | 4.6 | 3.6 | 2.0 | 2.5 |
| Sweden | 5.7 | 6.5 | 10.5 | 9.3 | 2.3 | 4.7 | 2.2 | 2.5 | 0.5 | 0.8 | 2.25 |
| Switzerland | 1.9 | 3.2 | 5.4 | 5.8 | 4.1 | 3.4 | 0.8 | 1.8 | 0.9 | 0.6 | 1.25 |
| Memo items: | |||||||||||
| Western Europe | 3.2 | 4.7 | 5.3 | 4.9 | 4.3 | 3.6 | 3.0 | 3.0 | 2.4 | 2.0 | 2.25 |
| European Union (15) | 3.2 | 4.8 | 5.3 | 4.9 | 4.4 | 3.6 | 3.0 | 3.0 | 2.5 | 2.0 | 2.25 |
| Other | 3.3 | 3.5 | 5.0 | 5.1 | 3.6 | 3.0 | 1.0 | 2.0 | 1.0 | 1.2 | 2 |
Source: UN/DESA, based on data of IMF, International Financial Statistics.
a Data for country groups are weighted averages, where
weights for each year are consumption expenditure for the year valued at 1993 prices and
exchange rates.
b Preliminary estimates.
c Forecasts, partly based on Project LINK. Home
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Department of Economic and Social Affairs
Comments and suggestions: esa@un.org
29 December 1997