Chapter 8 Data Apps

Inflation

Explore the data of Chapter 8 without any code. Every chart below is live: hover over it to read the values, and use its buttons, menus and sliders to change what it shows.

← Back to Chapter 8: Inflation

See also: Chapter 8 Model Apps, the chapter’s models without code.

Measuring inflation

Fig. 1: The inflation rate in the United States and the G20

Switch between the inflation rate and the price level with the buttons, and click a country in the legend to add it.

Sources. Data: U.S. Bureau of Labor Statistics, Consumer Price Index for All Urban Consumers (CPIAUCSL), via FRED, annual averages, for the United States; World Bank, World Development Indicators, Inflation, consumer prices (FP.CPI.TOTL.ZG) for the other economies, with gaps filled from the World Bank’s Global Inflation Database (Ha, Kose and Ohnsorge 2023). Prepared files: data/ch08/fig8-1.csv, data/ch08/inflation_panel.csv and data/ch08/countries.csv (see the data notes). Chart: inspired by Fig. 8.1 in Jones (2024), Macroeconomics, 6th ed.

Fig. 2: The percentage of countries experiencing high inflation

Move the slider to change the threshold, and click a group in the legend to add it; hover to see how many economies are behind a share.

Sources. Data: World Bank, World Development Indicators, Inflation, consumer prices (FP.CPI.TOTL.ZG); regions from the World Bank country and lending groups; OECD membership from the OECD’s list of members. Prepared files: data/ch08/fig8-2.csv, data/ch08/inflation_panel.csv (its WDI rows) and data/ch08/countries.csv (see the data notes). Chart: inspired by Fig. 8.2 in Jones (2024), Macroeconomics, 6th ed.

Testing the quantity theory

Fig. 3: Money growth and inflation in rich countries since 1870

Move the slider to change the length of the periods, and click a country in the legend to add it; double-click the chart to zoom back out.

Sources. Data: Jordà–Schularick–Taylor Macrohistory Database, release 6, broad money (money) and the CPI (cpi) (Jordà, Schularick and Taylor 2017), 18 economies, 1870–2020; for the United States since 1959, Board of Governors of the Federal Reserve System, M2 (M2NS), via FRED, and MeasuringWorth, Officer and Williamson, The Annual Consumer Price Index for the United States, 1774–Present. Prepared files: data/ch08/fig8-3.csv and data/ch08/money_prices_panel.csv (see the data notes). Chart: inspired by Fig. 8.3 in Jones (2024), Macroeconomics, 6th ed.

Fig. 3, velocity: the velocity of money in the United States

Hover over the line to read each year’s velocity; it stayed near 1.8 until about 1990, then rose and fell.

{1960: 1.78, 1970: 1.78, 1980: 1.86, 1990: 1.85, 1997: 2.18, 2007: 1.98, 2021: 1.16, 2025: 1.41}

Sources. Data: U.S. Bureau of Economic Analysis, Gross Domestic Product (GDPA), via FRED; Board of Governors of the Federal Reserve System, M2 (M2SL), via FRED, calendar-year averages. Prepared file: data/ch08/us_money_annual.csv (see the data notes). Chart: inspired by the discussion of velocity in Chapter 8 of Jones (2024), Macroeconomics, 6th ed., which has no figure of it.

Fig. 4: Money growth and inflation around the world

Move the slider to change real GDP growth in the quantity-theory line; both axes use a ratio scale, and hover shows each economy.

Sources. Data: World Bank, World Development Indicators, Broad money growth (FM.LBL.BMNY.ZG); World Bank, World Development Indicators, Inflation, consumer prices (FP.CPI.TOTL.ZG), with gaps filled from the World Bank’s Global Inflation Database (Ha, Kose and Ohnsorge 2023). Prepared file: data/ch08/fig8-4.csv (see the data notes). Chart: inspired by Fig. 8.4 in Jones (2024), Macroeconomics, 6th ed.

Real and nominal interest rates

Fig. 5: Real and nominal interest rates across countries

Pick a country from the menu and click inflation in the legend to show it; the nominal rate is the real rate plus inflation.

Sources. Data: for the United States, Board of Governors of the Federal Reserve System, 3-Month Treasury Bill Secondary Market Rate (TB3MS), via FRED and U.S. Bureau of Labor Statistics, Consumer Price Index for All Urban Consumers (CPIAUCSL), via FRED; for the other economies, the 3-month interest rate from the OECD Data Explorer: Economic Outlook No. 119, short-term interest rate (IRS, dataflow DSD_EO@DF_EO), with earlier years from the OECD’s financial-market statistics, 3-month interbank rate (IR3TIB, dataflow DSD_STES@DF_FINMARK; also on FRED, e.g. Germany, IR3TIB01DEM156N), and inflation from World Bank, World Development Indicators, Inflation, consumer prices (FP.CPI.TOTL.ZG) and the World Bank’s Global Inflation Database (Ha, Kose and Ohnsorge 2023). Prepared files: data/ch08/fig8-5.csv and data/ch08/interest_rates_panel.csv (see the data notes). Chart: inspired by Fig. 8.5 in Jones (2024), Macroeconomics, 6th ed.

Hyperinflation and high inflation

Fig. 6: Hyperinflations around the world

Switch between the linear and ratio scale with the buttons, and click a country in the legend to add it; the axis adapts.

Sources. Data: World Bank, World Development Indicators, Inflation, consumer prices, via FRED: Argentina (FPCPITOTLZGARG), Brazil (FPCPITOTLZGBRA) and Russia (FPCPITOTLZGRUS); Argentina before 2018 from the World Bank’s Global Inflation Database (Ha, Kose and Ohnsorge 2023); the other economies from World Bank, World Development Indicators, Inflation, consumer prices (FP.CPI.TOTL.ZG) and the Global Inflation Database. Prepared files: data/ch08/fig8-6.csv, data/ch08/fig8-7.csv and data/ch08/inflation_panel.csv (see the data notes). Chart: inspired by Fig. 8.6 in Jones (2024), Macroeconomics, 6th ed.

Fig. 7: High inflation in Mexico, Nigeria, Venezuela and more

Switch between the ratio and linear scale with the buttons, and click a country in the legend to add it; gaps mark years of falling prices.

Sources. Data: World Bank, World Development Indicators, Inflation, consumer prices, via FRED: Mexico (FPCPITOTLZGMEX), Nigeria (FPCPITOTLZGNGA) and Venezuela (FPCPITOTLZGVEN); Venezuela after 2016 from the World Bank’s Global Inflation Database (Ha, Kose and Ohnsorge 2023); the other economies, and the bar chart of peaks, from World Bank, World Development Indicators, Inflation, consumer prices (FP.CPI.TOTL.ZG) and the Global Inflation Database (Zimbabwe 2001–2008 dropped). Prepared files: data/ch08/fig8-7.csv, data/ch08/fig8-6.csv and data/ch08/inflation_panel.csv (see the data notes). Chart: inspired by Fig. 8.7 in Jones (2024), Macroeconomics, 6th ed.