Reply to Why has inflation hit the US more than Europe?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][b]According to all the data, inflation is higher in Europe than the US[/b]--has been slower to go down than the global inflation connected to the pandemic.

What you are pointing to is the effect of different cost of living (which varies widely across European countries/cities) and the effect of a strong US dollar, not anything to do with inflation (which as an outsider you wouldn't have a sense of because it's how much prices have gone up compared to prior times in the local currency).[/quote]

Incorrect. Inflation currently is higher in the US at 3.3% than in the EU, where it is 2.9%. UK is higher at 3.3%.

https://tradingeconomics.com/country-list/core-inflation-rate[/quote]

The problem with the data here is the calculations are done differently. The big difference is the way the US calculates housing inflation, owner occupiers housing costs. It’s making inflation look much higher (and it's weighted about a third of the CPI).

Not saying the way it’s done here is wrong, but it is different. If you compare same vs same then you get a different result. Always need to be careful with data interpretation.[/quote]

It’s called the harmonized CPI and it’s at 1.8% for all items, instead of 2.9%. Not sure what just the core number would be harmonized.[/quote]

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