A NS Sherlock report from the OECD shows G20 inflation dropping to 2.5% from 2.6% in October while OECD area inflation stayed steady at 1.7%.
Japan saw a drop to 2.9% from 3.2% prior while the US stayed put at 1.7%
OECD monthly global inflation 02 12 2014
Aside from Europe, looking at this report overall there’s not much wrong with the inflation picture right now, if we use 2% as the general yardstick. Of course the picture can change, and there’s plenty going against inflation, but right now things aren’t as bad as some might make out.