-3Inflation was rising in most advanced economies, and Canadian households were feeling the effects of higher global inflation (Chart 2).
Chart 2: Inflation has risen globally Total CPI, year-over-year percentage change % 12  8  4  0  -4 2019  2020 France Japan New Zealand  2021 Germany United Kingdom United States  2022 Italy Australia Canada  Note: Australia and New Zealand are using quarterly data, all other countries use monthly data.