Inflation around the world

Inflation is rampant around the world, in both rich and emerging countries, as increased prices for raw materials burn a hole in consumers' pockets. Here are the inflation situation around the world in brief as of 13 August 2008 .

US consumer price index 5%
Eurozone price increase 4.1%

Inflation in Europe are as follows;
France 3.6%
Britain 4.4% (highest in 16yr)
Italy 4.1% (highest in 12yr)
Spain 5.3% (highest in 11yr)
Germany 3.3% (highest since 1993)
Norway 4.3%
Denmark 4.0% (biggest since 1989)

Eastern Europe have highest rate for July since hyperinflation in 1996-97 as follows;
Czech Republic 6.7%
Romania 9.0%
Bulgaria 14.4%

In Asia, we have the following;
Japan 1.9% (as of June 08 CPI, it is 10 yrs high)
India 12%
China 6.3% (has been slowing for three months)
Singapore 7.5% (all time high)
Pakistan 24.3% (all time high)
Vietname 25%

Emerging countries are worst off as;
Egypt 23%
Thailand 27%

In our view, the recent decrease in oil prices could ease worldwide inflationary pressures but we think that the situation is not about to improve before the end of year 2008.