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Fri Jun 17, 2022, 04:57 PM

U.S. inflation vs the world.

Thought this was interesting. Inflation rates in the G20. First number is current, second number is previously reported number.

China 2.1 2.1
Saudi Arabia 2.2 2.3
Japan 2.5 1.2
Switzerland 2.9 2.5
Indonesia 3.55 3.47
Australia 5.1 3.5
France 5.2 4.8
Singapore 5.4 5.4
South Korea 5.4 4.8
South Africa 5.9 5.9
Canada 6.8 6.7
Italy 6.8 6
India 7.04 7.79
Mexico 7.65 7.68
Germany 7.9 7.4
Euro Area 8.1 7.4
United States 8.6 8.3
Spain 8.7 8.3
Netherlands 8.8 9.6
United Kingdom 9 7
Brazil 11.73 12.13
Russia 17.1 17.8
Argentina 60.7 58
Turkey 73.5 69.97

https://tradingeconomics.com/country-list/inflation-rate

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Response to Sympthsical (Original post)

Fri Jun 17, 2022, 05:06 PM

1. Damn. We have the 8th highest inflation in the world of 131 countries.

Thatís pretty awful.

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Response to jimfields33 (Reply #1)

Fri Jun 17, 2022, 05:10 PM

2. I think your numbers are off

Ours is 8th highest of the G20.

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Response to TheRealNorth (Reply #2)

Fri Jun 17, 2022, 05:12 PM

4. Ok. Still dismal.

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Response to jimfields33 (Reply #4)

Fri Jun 17, 2022, 05:35 PM

6. Well, how much debt are you struggling under from battling Covid infection?

Nothing, like almost everyone who had to be treated?

Our unemployment rate is 3.6%, roughly 2 open jobs for each person looking. In many other nations people's jobs disappeared some time after spring 2020, haven't returned, and show no sign of returning. In this one, wage hikes are a major contributor to our inflation rate.

Over 70% of Americans say they're doing fine, though. (Not including complain-y types who are also doing okay.)

Not SO dismal on expanding the picture just a bit. Notably on realizing that inflation and food and petro shortages are all interconnected global problems, not just ours, and that billions of people in nations with lower rates are hurting bad.

Oh, speaking of: how's the hunger going in your house? Any plans for where to go if famine hits your region?

Inflation's not good, stagflation makes me cringe, remembering years of it in the 1970s, but...we're privileged and it's not accidental.

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Response to jimfields33 (Reply #4)

Fri Jun 17, 2022, 05:41 PM

7. It's pretty much middle-of-the-road.

And it reinforces the point that inflation is a global issue right now and any attempts by anyone to blame Biden or Democrats for this particular issue is ignorant.

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Response to jimfields33 (Reply #1)

Fri Jun 17, 2022, 05:11 PM

3. Corporations are making record profits. I don't call that inflation. I call it corporate greed and

Exerting itís power to buy whatever is left of America.

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Response to jimfields33 (Reply #1)

Fri Jun 17, 2022, 05:32 PM

5. Compare us to our fellow ADVANCED nations and democracies,

sifting out authoritarian and totalitarian states and underdeveloped nations.

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Response to Hortensis (Reply #5)

Fri Jun 17, 2022, 06:16 PM

10. Germany, Japan, France, Canada, Italy, South Korea, Australia, and Switzerland aren't advanced ?

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Response to MichMan (Reply #10)

Sat Jun 18, 2022, 08:37 AM

13. ? Most consider them so.

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Response to Sympthsical (Original post)

Fri Jun 17, 2022, 05:50 PM

8. Are these numbers accurate?

President Biden just said that the US has lower inflation than all other advanced economies.

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Response to MichMan (Reply #8)

Fri Jun 17, 2022, 05:54 PM

9. That's what caused me to look

Because there was a kerfuffle about his statement.

The White House walked back the President's statement later on during a press briefing.

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Response to Sympthsical (Reply #9)

Fri Jun 17, 2022, 06:24 PM

11. Did they think no one was going to fact check it?

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Response to MichMan (Reply #11)

Fri Jun 17, 2022, 06:30 PM

12. Or he mispoke and meant something else.

I don't know. But I knew a few other countries had lower, realized I wasn't sure what the numbers were like, so decided to take a gander.

Then I kept seeing the incorrect statement repeated here quite a bit this morning, so I figured I'd share what I found.

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Response to Sympthsical (Original post)

Sat Jun 18, 2022, 09:38 AM

14. The most important point is that inflation is global and Biden's administration is not responsible

for it in total. His spending might have increased our inflation by a percentage point, but it did not cause inflation in Germany or the UK.

Every news story on inflation should note it's a worldwide phenomenon. They should put it in context like this chart.

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