We’ve completed quite a lot of weblog posts on inflation and different financial indicators utilizing knowledge from the US Bureau of Labor Statistics.  Nevertheless we all know the world (and Domo’s consumer base) goes past simply the US so we went looking for knowledge to assist inform the broader international story of inflation.  Fortunately, the Group for Financial Co-operation and Growth (OECD) collects this inflation info on many international locations and cross-national organizations.  In addition they have a shared the information by way of an organized API framework referred to as SDMX (Statistical Knowledge and Metadata eXchange) which means we will use Domo’s Jupyter Workspaces integration to automate the method of bringing the information into Domo (Code for loading this knowledge might be discovered right here.  Credit score to McWayne Mumford for getting this working for me). 

One of many greater questions now we have explored up to now is whether or not inflation is lastly getting higher (decrease being higher on this case).  The map under offers us a snapshot of what route inflation goes primarily based on the newest month of OECD knowledge.  As of this writing (numbers will proceed to replace so you’ll be able to come again right here and test), we will see that many international locations have seen inflation getting higher (Russia not being a type of however should you hover on the map you’ll be able to see that the newest knowledge is from March 2022). We are able to additionally see that general inflation is far increased in Europe than within the smaller G-7.

We can also use this knowledge to go deeper on one particular nation.  For instance under is the information defaulted for Japan inflation again to 2017.  Whereas inflation continues to be going up in Japan, it’s considerably decrease than in the US or Europe. You possibly can go forward and change to a distinct nation as wanted or have a look at further years or a distinct measure reminiscent of Meals.

We are going to proceed to discover these OECD and different international knowledge sources to make sure we hold a worldwide perspective on this area.