Source: UNECE Statistical database www.unece.org/stats/data
After trending downward in 2013 and 2014 inflation in most European economies has remained below 1 per cent through 2015, as measured by the 12 month rates of change of the consumer price index (CPI). Several countries have experienced falling consumer prices.
France experienced a drop in inflation rates from an average of 0,5% in 2014 to 0% in September 2015. In Germany inflation fell from an average of 0,9% in 2014 to 0,0% in September 2015. A similar pattern were seen for both Italy and the United Kingdom who in September 2015 saw inflation rates of 0,2% and -0,2%, respectively. Negative inflation, known as deflation, was seen in several countries. One example being Poland where inflation went from an average of 0,1% in 2014 to 0,6% in August 2015.