Inflation
Inflation is essentially the change in the value of the currency of a country. If in 2008 the price of a gallon of milk is 2.00, and in 2009 (all other things constant) the price is 2.20 there was a 10% inflation of the currency in question. This is important because when looking at price changes in things inflation can deceive someone into believing that a product has changed in supply, for better or worse, where that may be only half of the reason why prices change. Now with modern day technology and the speed at which it moves many times prices can also change because of an improvement in the technology of a substitute product, like cell phones for instance.
The United Kingdom has the second highest inflation rate when looking at the countries that were selected for this report. Still, the countries it is compared to is The United States, still the most powerful economic country in the world, China, the country that most economists look to as the next big super power, and India, the country with Germany, the strongest economic country in The European Union. Still, even though it is lower than The United States, China, and Germany it is still only at 2.2% compared to India's 10.9%. According to the CIA World Factbook the only country listed below that would be considered not a developed country would be India. And even though the inflation is at 2.2% it is still down 1.4% from last year when compared to the base year. This information shows that The United States, Germany, and The United Kingdom are the only countries listed that are consistently considered "Developed Countries" where as China and India last year were considered Developing. This says that even though The United Kingdom is not often talked about when Developed Countries are mentioned in media, they deserve to be there more so than countries like China and India because of the trend of consistent low inflation rates.
The United Kingdom has the second highest inflation rate when looking at the countries that were selected for this report. Still, the countries it is compared to is The United States, still the most powerful economic country in the world, China, the country that most economists look to as the next big super power, and India, the country with Germany, the strongest economic country in The European Union. Still, even though it is lower than The United States, China, and Germany it is still only at 2.2% compared to India's 10.9%. According to the CIA World Factbook the only country listed below that would be considered not a developed country would be India. And even though the inflation is at 2.2% it is still down 1.4% from last year when compared to the base year. This information shows that The United States, Germany, and The United Kingdom are the only countries listed that are consistently considered "Developed Countries" where as China and India last year were considered Developing. This says that even though The United Kingdom is not often talked about when Developed Countries are mentioned in media, they deserve to be there more so than countries like China and India because of the trend of consistent low inflation rates.
