One-Stop Source: A Global Database of Inflation

This paper introduces a global database that contains inflation series: (i) for wide range of measures (headline, food, energy, and core consumer price inflation; producer gross domestic product deflator changes); (ii) at multiple frequencies (monthly, quarterly annual) an extended time period (1970-2021); (iii) large number (up to 196) countries. As it doubles the observations over next-largest publicly available sources, our constitutes comprehensive, single source series. We illustrate potential use with three applications. First, we study evolution since 1970 document broad-based disinflation around world past half-century, down from peak roughly 17 percent in 1974 2.5 2020. Second, examine behavior during recessions. Global fell sharply (on average by 0.9 percentage points) year trough recessions continued decline even as recoveries got underway. In 2020, declined less, more briefly, than any previous four 50 years. Third, analyze role common factors explaining movements different inflation. While, across all measures, synchronization has risen early 2000s, been much higher involve larger share tradable goods.