A Look at Inflation Around the Globe [CHARTS]

With uber-dove ECB president Mario Draghi lecturing governments in the European Union to increase spending, here’s a look at what Mr. Draghi is looking at. The graphic has the year-over-year growth rate in inflation for the U.S, E.U., and BRIC countries. Inflation in the U.S. and Europe In the U.S, inflation has been floating around 2% since early 2012. The rate has surprisingly stayed within a narrow band, consistent with the view that growth continues to be moderately positive. In the E.U. inflation picked up after the housing market-induced financial recession, bottoming in late 2009. Inflation accelerated until late 2011,…