Inflation and Growth
|Annual Inflation1||Real GDP Growth|
|Country and Period||Mean||Standard Deviation||Mean||Standard Deviation|
|Other inflation-targeting countries|
|1980 to adoption of targets2||7.8||3.5||2.1||2.6|
|Adoption of targets to 1997||2.3||1.1||2.5||2.1|
|Large non-inflation-targeting countries3|
|Small non-inflation-targeting countries4|
Headline consumer price inflation for all countries except Australia (the underlying CPI), New Zealand (the CPI excluding credit services) and the United Kingdom (the Retail Price Index, excluding mortgage interest rates). Inflation rates are calculated as the year-on-year change in the quarterly index.
Dates used for adoption of targets are: Canada, 1991; Finland, 1993; New Zealand, 1990; Spain, 1994; Sweden, 1993, and the United Kingdom, 1992.
France, Germany, Italy, Japan, and the United States.
Belgium, Denmark, Greece, Iceland, Ireland, Norway, and Luxemburg and Portugal.