The international media have been intently focused on the dire inflationary trend in the United States, where inflation recently hit 8.6% — a 40-year high. Indeed, this swing prompted the Federal Reserve to step in this week and implement its largest interest rate hike since 1994. But the US is just one of many advanced economies feeling the burn of sluggish growth and inflation. In fact, several large economies have experienced even bigger rises in inflation over the past year. We compare these numbers for all G7 countries: the US, Germany, France, Italy, Japan, the UK, and Canada.
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