Averages and standard deviations have been computed from underlying monthly observations, using year-over-year percentage changes for inflation. Observations for all countries are not available for all months. Observations involving extreme inflation outcomes have been excluded (decadal average > 20%, decadal standard deviation > 10 percentage points). Dotted lines denote decade-specific lines of best fit.
Each dot represents a mapping from the standard deviation of inflation to the average unemployment rate, for a given country in a given decade.