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Increases in consumer price inflation over the last year in many countries of the UNECE region

Source: UNECE Statistical database www.unece.org/stats/data

Over the last year, most UNECE member States have experienced higher consumer price inflation, as measured by the 12-month rate of change of the consumer price index (CPI).

In September 2017, the consumer price inflation in many European countries was 1-3 per cent, compared to inflation rates of 0-1 per cent in September 2016.

For instance, in Germany the consumer price inflation went up from 0.6 per cent in September 2016 to 1.8 per cent in September 2017. During the same period in Italy, the consumer price inflation increased from 0.1 per cent to 1.0 per cent. In Poland, inflation went up from -0.6 per cent to 2.2 per cent, and in the United Kingdom from 0.9 per cent to 2.9 per cent. The United States saw an increase in consumer price inflation from 1.5 per cent to 2.2 per cent.

Some countries in East and South-East Europe experienced higher consumer price increases. In Ukraine, consumer price inflation doubled from 7.8 per cent to 16.4 per cent. Similarly, Turkey experienced a notable increase from 7.3 per cent to 11.2 per cent. Conversely, Kazakhstan experienced a significant drop in consumer price inflation, from 16.5 per cent to 2.2 per cent.