Norway Consumer Price Index (CPI): YoY: Tax Changes Adjustment: excl Temporary Changes in Energy Prices data was reported at 2.000 % in Oct 2018. This records a decrease from the previous number of 2.200 % for Sep 2018. Norway Consumer Price Index (CPI): YoY: Tax Changes Adjustment: excl Temporary Changes in Energy Prices data is updated monthly, averaging 1.700 % from Jan 2002 (Median) to Oct 2018, with 202 observations. The data reached an all-time high of 3.700 % in Sep 2008 and a record low of 0.400 % in Feb 2004. Norway Consumer Price Index (CPI): YoY: Tax Changes Adjustment: excl Temporary Changes in Energy Prices data remains active status in CEIC and is reported by Norges Bank. The data is categorized under Global Database’s Norway – Table NO.I012: Consumer Price Index: Tax Changes Adjustment: Percentage Change.

Germany PPI: Services: Temporary Employment Agency Activities data was reported at 130.100 2015=100 in Dec 2023. This records an increase from the previous number of 129.400 2015=100 for Sep 2023. Germany PPI: Services: Temporary Employment Agency Activities data is updated quarterly, averaging 98.350 2015=100 from Mar 2006 (Median) to Dec 2023, with 72 observations. The data reached an all-time high of 130.100 2015=100 in Dec 2023 and a record low of 83.200 2015=100 in Jun 2006. Germany PPI: Services: Temporary Employment Agency Activities data remains active status in CEIC and is reported by Statistisches Bundesamt. The data is categorized under Global Database’s Germany – Table DE.I047: Producer Price Index: Services: by Type of Service: 2015=100.

Fault Lines Widen in the Global Recovery

Economic prospects have diverged further across countries since the April 2021 World Economic Outlook (WEO) forecast. Vaccine access has emerged as the principal fault line along which the global recovery splits into two blocs: those that can look forward to further normalization of activity later this year (almost all advanced economies) and those that will still face resurgent infections and rising COVID death tolls. The recovery, however, is not assured even in countries where infections are currently very low so long as the virus circulates elsewhere.

The global economy is projected to grow 6.0 percent in 2021 and 4.9 percent in 2022.The 2021 global forecast is unchanged from the April 2021 WEO, but with offsetting revisions. Prospects for emerging market and developing economies have been marked down for 2021, especially for Emerging Asia. By contrast, the forecast for advanced economies is revised up. These revisions reflect pandemic developments and changes in policy support. The 0.5 percentage-point upgrade for 2022 derives largely from the forecast upgrade for advanced economies, particularly the United States, reflecting the anticipated legislation of additional fiscal support in the second half of 2021 and improved health metrics more broadly across the group.

Recent price pressures for the most part reflect unusual pandemic-related developments and transitory supply-demand mismatches. Inflation is expected to return to its pre-pandemic ranges in most countries in 2022 once these disturbances work their way through prices, though uncertainty remains high. Elevated inflation is also expected in some emerging market and developing economies, related in part to high food prices. Central banks should generally look through transitory inflation pressures and avoid tightening until there is more clarity on underlying price dynamics. Clear communication from central banks on the outlook for monetary policy will be key to shaping inflation expectations and safeguarding against premature tightening of financial conditions. There is, however, a risk that transitory pressures could become more persistent and central banks may need to take preemptive action.

Risks around the global baseline are to the downside. Slower-than-anticipated vaccine rollout would allow the virus to mutate further. Financial conditions could tighten rapidly, for instance from a reassessment of the monetary policy outlook in advanced economies if inflation expectations increase more rapidly than anticipated. A double hit to emerging market and developing economies from worsening pandemic dynamics and tighter external financial conditions would severely set back their recovery and drag global growth below this outlook’s baseline.

Multilateral action has a vital role to play in diminishing divergences and strengthening global prospects. The immediate priority is to deploy vaccines equitably worldwide. A $50 billion IMF staff proposal, jointly endorsed by the World Health Organization, World Trade Organization, and World Bank, provides clear targets and pragmatic actions at a feasible cost to end the pandemic. Financially constrained economies also need unimpeded access to international liquidity. The proposed $650 billion General Allocation of Special Drawing Rights at the IMF is set to boost reserve assets of all economies and help ease liquidity constraints. Countries also need to redouble collective efforts to reduce greenhouse gas emissions. These multilateral actions can be reinforced by national-level policies tailored to the stage of the crisis that help catalyze a sustainable, inclusive recovery. Concerted, well-directed policies can make the difference between a future of durable recoveries for all economies or one with widening fault lines—as many struggle with the health crisis while a handful see conditions normalize, albeit with the constant threat of renewed flare-ups.

Brazil Broad Producer Price Index: IPA-OG-DI: Agricultural Products: Temporary Crops data was reported at 356.580 Dec2007=100 in Jan 2021. This records an increase from the previous number of 340.455 Dec2007=100 for Dec 2020. Brazil Broad Producer Price Index: IPA-OG-DI: Agricultural Products: Temporary Crops data is updated monthly, averaging 103.946 Dec2007=100 from Jan 1999 (Median) to Jan 2021, with 265 observations. The data reached an all-time high of 364.732 Dec2007=100 in Nov 2020 and a record low of 27.335 Dec2007=100 in Jan 1999. Brazil Broad Producer Price Index: IPA-OG-DI: Agricultural Products: Temporary Crops data remains active status in CEIC and is reported by Getulio Vargas Foundation. The data is categorized under Brazil Premium Database’s Inflation – Table BR.FGV: Broad Producer Price Index: by Origin.

United States PPI: Svcs: ES: SS: PS: Temporary Help (TH) data was reported at 185.771 Jun1994=100 in Mar 2025. This records an increase from the previous number of 182.837 Jun1994=100 for Feb 2025. United States PPI: Svcs: ES: SS: PS: Temporary Help (TH) data is updated monthly, averaging 128.350 Jun1994=100 from Jun 1994 (Median) to Mar 2025, with 370 observations. The data reached an all-time high of 185.771 Jun1994=100 in Mar 2025 and a record low of 100.000 Jun1994=100 in Sep 1994. United States PPI: Svcs: ES: SS: PS: Temporary Help (TH) data remains active status in CEIC and is reported by U.S. Bureau of Labor Statistics. The data is categorized under Global Database’s United States – Table US.I105: Producer Price Index: by Industry: Services: Professional and Technical.

Mexico Consumer Price Index (CPI): Tertiary Sector: Temporary Accomm & Food & Beverage Prep Svcs data was reported at 103.596 16Jul2018-31Jul2018=100 in Mar 2019. This records an increase from the previous number of 103.223 16Jul2018-31Jul2018=100 for Feb 2019. Mexico Consumer Price Index (CPI): Tertiary Sector: Temporary Accomm & Food & Beverage Prep Svcs data is updated monthly, averaging 84.336 16Jul2018-31Jul2018=100 from Jan 2011 (Median) to Mar 2019, with 99 observations. The data reached an all-time high of 103.596 16Jul2018-31Jul2018=100 in Mar 2019 and a record low of 68.912 16Jul2018-31Jul2018=100 in Jan 2011. Mexico Consumer Price Index (CPI): Tertiary Sector: Temporary Accomm & Food & Beverage Prep Svcs data remains active status in CEIC and is reported by National Institute of Statistics and Geography. The data is categorized under Global Database’s Mexico – Table MX.I016: Consumer Price Index: by Original Good: Second Half July 2018=100.

Colombia GDP: GVA: Agriculture: Transitory & Permanent Agricultural Crops, Propagation of Plants, Support & Related Service Activities data was reported at 10,845.368 COP bn in Sep 2018. This records an increase from the previous number of 10,669.179 COP bn for Jun 2018. Colombia GDP: GVA: Agriculture: Transitory & Permanent Agricultural Crops, Propagation of Plants, Support & Related Service Activities data is updated quarterly, averaging 5,917.400 COP bn from Mar 2005 (Median) to Sep 2018, with 55 observations. The data reached an all-time high of 11,150.238 COP bn in Mar 2018 and a record low of 3,983.062 COP bn in Mar 2005. Colombia GDP: GVA: Agriculture: Transitory & Permanent Agricultural Crops, Propagation of Plants, Support & Related Service Activities data remains active status in CEIC and is reported by National Statistics Administrative Department. The data is categorized under Global Database’s Colombia – Table CO.A005: SNA 2008: GDP: by Industry: Current Price.

Colombia GDP: 2015p: Agriculture: Transitory & Permanent Agricultural Crops, Propagation of Plants, Support & Related Service Activities data was reported at 8,923.356 COP bn in Sep 2018. This records an increase from the previous number of 8,731.599 COP bn for Jun 2018. Colombia GDP: 2015p: Agriculture: Transitory & Permanent Agricultural Crops, Propagation of Plants, Support & Related Service Activities data is updated quarterly, averaging 6,884.874 COP bn from Mar 2005 (Median) to Sep 2018, with 55 observations. The data reached an all-time high of 9,639.131 COP bn in Mar 2018 and a record low of 6,001.885 COP bn in Jun 2009. Colombia GDP: 2015p: Agriculture: Transitory & Permanent Agricultural Crops, Propagation of Plants, Support & Related Service Activities data remains active status in CEIC and is reported by National Statistics Administrative Department. The data is categorized under Global Database’s Colombia – Table CO.A007: SNA 2008: GDP: by Industry: Chain Linked 2015 Price.

Japan CSPI: MS: EE: Temporary Employment Agency (TEA) data was reported at 105.000 2005=100 in Apr 2014. This records an increase from the previous number of 102.200 2005=100 for Mar 2014. Japan CSPI: MS: EE: Temporary Employment Agency (TEA) data is updated monthly, averaging 101.200 2005=100 from Jan 1990 (Median) to Apr 2014, with 292 observations. The data reached an all-time high of 105.000 2005=100 in Apr 2014 and a record low of 87.000 2005=100 in Feb 1990. Japan CSPI: MS: EE: Temporary Employment Agency (TEA) data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.I043: Corporate Service Price Index: 2005=100.

Finland PPI: Services: SA: Employment Activities: Temporary Employment Agency data was reported at 111.500 2010=100 in Jun 2018. This records an increase from the previous number of 110.700 2010=100 for Mar 2018. Finland PPI: Services: SA: Employment Activities: Temporary Employment Agency data is updated quarterly, averaging 107.750 2010=100 from Mar 2010 (Median) to Jun 2018, with 34 observations. The data reached an all-time high of 111.500 2010=100 in Jun 2018 and a record low of 99.700 2010=100 in Mar 2010. Finland PPI: Services: SA: Employment Activities: Temporary Employment Agency data remains active status in CEIC and is reported by Statistics Finland. The data is categorized under Global Database’s Finland – Table FI.I019: Producer Price Index: Services: 2010=100: Standard Industrial Classification 2008.

Netherlands PPI: Services: AS: Employment: Temporary Employment Agency data was reported at 113.400 2010=100 in Dec 2017. This records an increase from the previous number of 112.000 2010=100 for Sep 2017. Netherlands PPI: Services: AS: Employment: Temporary Employment Agency data is updated quarterly, averaging 102.100 2010=100 from Mar 2006 (Median) to Dec 2017, with 48 observations. The data reached an all-time high of 113.400 2010=100 in Dec 2017 and a record low of 85.700 2010=100 in Sep 2006. Netherlands PPI: Services: AS: Employment: Temporary Employment Agency data remains active status in CEIC and is reported by Statistics Netherlands. The data is categorized under Global Database’s Netherlands – Table NL.I021: Producer Price Index: Services: 2010=100. Rebased from 2010=100 to 2015=100 Replacement series ID: 403712157