Year 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 Italy (ref 2015) Germany (ref 2015) Italy (ref 2010) Germany (ref 2010) Italy/Germany (%) 3.5 21.0 3.8 22.5 17 3.6 21.5 3.9 23.1 17 3.7 22.0 4.0 23.6 17 3.8 22.4 4.1 24.1 17 3.8 22.6 4.1 24.3 17 3.9 23.0 4.1 24.6 17 3.9 23.5 4.2 25.2 17 4.1 24.2 4.4 25.9 17 4.4 24.9 4.8 26.7 18 4.7 25.5 5.0 27.3 18 4.9 26.3 5.3 28.2 19 5.0 27.2 5.4 29.2 18 5.2 27.7 5.6 29.7 19 5.3 28.1 5.7 30.2 19 5.4 28.7 5.8 30.7 19 5.7 29.7 6.1 31.8 19 6.0 31.2 6.4 33.5 19 6.3 32.9 6.8 35.3 19 7.0 35.2 7.5 37.8 20 8.3 37.7 8.9 40.4 22 9.7 39.9 10.4 42.8 24 11.3 41.6 12.2 44.6 27 13.3 43.2 14.3 46.3 31 14.9 44.4 16.0 47.6 34 17.1 46.2 18.4 49.5 37 20.7 48.7 22.2 52.2 43 24.4 51.8 26.2 55.5 47 28.4 54.5 30.5 58.4 52 32.6 56.3 35.0 60.3 58 36.1 57.6 38.8 61.8 63 39.4 58.8 42.4 63.0 67 41.7 58.7 44.8 63.0 71 43.7 58.9 47.0 63.1 74 45.9 59.6 49.3 63.9 77 48.8 61.3 52.4 65.7 80 51.9 62.9 55.8 67.5 83 55.2 65.5 59.3 70.2 84 58.1 68.8 62.4 73.7 85 60.8 71.9 65.3 77.0 85 63.2 73.8 68.0 79.1 86 66.5 75.1 71.5 80.5 89 69.2 76.2 74.4 81.6 91 70.6 77.6 75.9 83.2 91 72.0 78.3 77.4 84.0 92 73.2 78.8 78.7 84.5 93 75.1 79.9 80.7 85.7 94 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 77.1 79.0 81.2 83.0 84.6 86.4 87.9 90.9 91.6 93.0 95.6 98.5 99.7 99.9 100.0 99.9 101.1 102.3 102.5 81.5 82.7 83.5 84.9 86.2 87.6 89.6 92.0 92.3 93.3 95.2 97.1 98.6 99.5 100.0 100.5 102.0 103.8 103.6 82.9 85.0 87.2 89.2 90.9 92.8 94.5 97.7 98.5 100.0 102.7 105.9 107.2 107.4 107.5 107.4 108.7 109.9 110.1 87.4 88.6 89.5 91.0 92.4 93.9 96.1 98.6 98.9 100.0 102.1 104.1 105.7 106.6 107.2 107.7 109.3 111.2 111.1 95 96 97 98 98 99 98 99 100 100 101 102 101 101 100 100 99 99 99 CPI (Italy) / CPI (Germany), ref = 2010 Comparison of the CPI 120 100 80 60 40 20 1950 1960 1970 1980 1990 Year 2000 2010 2020 1955M01 CPI (Italy, ref 2015) CPI (Germany, ref 2015) Year Source 1955M02 1955M03 1955M04 1955M05 1955M06 1955M07 3.51 3.50 3.50 3.50 3.51 3.51 3.51 20.94 20.81 20.81 20.81 20.74 20.81 21.07 1,955 1,955 1,955 1,955 1,955 1,955 1,955 http://data.imf.org/regular.aspx?key=61015892 1955M08 1955M09 1955M10 1955M11 1955M12 1956M01 1956M02 1956M03 1956M04 3.52 3.52 3.53 3.54 3.56 3.57 3.61 3.63 3.64 20.94 20.94 21.20 21.26 21.33 21.20 21.26 21.59 21.59 1,955 1,955 1,955 1,955 1,955 1,956 1,956 1,956 1,956 1956M05 1956M06 1956M07 1956M08 1956M09 1956M10 1956M11 1956M12 1957M01 3.65 3.64 3.64 3.64 3.65 3.64 3.65 3.67 3.68 21.52 21.52 21.59 21.46 21.52 21.59 21.66 21.72 21.79 1,956 1,956 1,956 1,956 1,956 1,956 1,956 1,956 1,957 1957M02 1957M03 1957M04 1957M05 1957M06 1957M07 1957M08 1957M09 1957M10 3.67 3.66 3.65 3.65 3.65 3.67 3.68 3.69 3.71 21.79 21.66 21.79 21.85 21.98 22.18 22.11 22.05 22.11 1,957 1,957 1,957 1,957 1,957 1,957 1,957 1,957 1,957 1957M11 1957M12 1958M01 1958M02 1958M03 1958M04 1958M05 1958M06 1958M07 3.73 3.75 3.76 3.75 3.76 3.79 3.81 3.82 3.82 22.18 22.18 22.37 22.44 22.44 22.44 22.63 22.70 22.57 1,957 1,957 1,958 1,958 1,958 1,958 1,958 1,958 1,958 1958M08 1958M09 1958M10 1958M11 1958M12 1959M01 1959M02 1959M03 1959M04 3.81 3.80 3.78 3.78 3.77 3.76 3.76 3.75 3.74 22.31 22.18 22.31 22.44 22.44 22.44 22.44 22.44 22.44 1,958 1,958 1,958 1,958 1,958 1,959 1,959 1,959 1,959 1959M05 1959M06 1959M07 1959M08 1959M09 1959M10 1959M11 1959M12 1960M01 3.76 3.75 3.74 3.75 3.76 3.80 3.82 3.83 3.85 22.44 22.63 22.70 22.76 22.70 22.76 22.96 22.96 22.96 1,959 1,959 1,959 1,959 1,959 1,959 1,959 1,959 1,960 1960M02 1960M03 1960M04 1960M05 1960M06 1960M07 1960M08 1960M09 1960M10 3.85 3.84 3.84 3.84 3.84 3.86 3.87 3.86 3.86 22.83 22.83 22.96 23.03 23.03 23.03 23.03 22.96 23.03 1,960 1,960 1,960 1,960 1,960 1,960 1,960 1,960 1,960 1960M11 1960M12 1961M01 1961M02 1961M03 1961M04 1961M05 1961M06 1961M07 3.88 3.89 3.90 3.90 3.91 3.91 3.92 3.92 3.93 23.09 23.09 23.29 23.29 23.29 23.29 23.48 23.61 23.61 1,960 1,960 1,961 1,961 1,961 1,961 1,961 1,961 1,961 1961M08 1961M09 1961M10 1961M11 1961M12 1962M01 1962M02 1962M03 1962M04 3.94 3.95 3.96 3.98 4.00 4.01 4.04 4.06 4.09 23.61 23.61 23.61 23.74 23.74 24.00 24.07 24.13 24.20 1,961 1,961 1,961 1,961 1,961 1,962 1,962 1,962 1,962 1962M05 1962M06 1962M07 1962M08 1962M09 1962M10 1962M11 1962M12 1963M01 4.09 4.11 4.13 4.14 4.15 4.17 4.19 4.26 4.30 24.20 24.20 24.26 24.13 24.13 24.20 24.26 24.39 24.72 1,962 1,962 1,962 1,962 1,962 1,962 1,962 1,962 1,963 1963M02 1963M03 1963M04 1963M05 1963M06 1963M07 1963M08 1963M09 1963M10 4.37 4.38 4.41 4.41 4.41 4.41 4.43 4.46 4.51 24.92 24.92 24.98 24.92 24.79 24.79 24.72 24.79 24.98 1,963 1,963 1,963 1,963 1,963 1,963 1,963 1,963 1,963 1963M11 1963M12 1964M01 1964M02 1964M03 1964M04 1964M05 1964M06 1964M07 4.52 4.55 4.59 4.59 4.61 4.61 4.65 4.68 4.71 25.05 25.24 25.37 25.44 25.44 25.44 25.44 25.37 25.44 1,963 1,963 1,964 1,964 1,964 1,964 1,964 1,964 1,964 1964M08 1964M09 1964M10 1964M11 1964M12 1965M01 1965M02 1965M03 1965M04 4.72 4.74 4.76 4.80 4.82 4.84 4.85 4.86 4.87 25.44 25.44 25.50 25.63 25.83 25.90 25.90 26.03 26.09 1,964 1,964 1,964 1,964 1,964 1,965 1,965 1,965 1,965 1965M05 1965M06 1965M07 1965M08 1965M09 1965M10 1965M11 1965M12 1966M01 4.88 4.89 4.92 4.92 4.94 4.94 4.95 4.98 4.99 26.16 26.35 26.42 26.42 26.42 26.55 26.68 26.81 26.94 1,965 1,965 1,965 1,965 1,965 1,965 1,965 1,965 1,966 1966M02 1966M03 1966M04 1966M05 1966M06 1966M07 1966M08 1966M09 1966M10 4.99 4.99 5.00 5.01 5.01 5.01 5.02 5.02 5.03 27.00 27.07 27.26 27.26 27.26 27.26 27.20 27.20 27.26 1,966 1,966 1,966 1,966 1,966 1,966 1,966 1,966 1,966 1966M11 1966M12 1967M01 1967M02 1967M03 1967M04 1967M05 1967M06 1967M07 5.06 5.09 5.14 5.16 5.17 5.17 5.19 5.20 5.21 27.53 27.59 27.66 27.66 27.72 27.72 27.79 27.79 27.79 1,966 1,966 1,967 1,967 1,967 1,967 1,967 1,967 1,967 1967M08 1967M09 1967M10 1967M11 1967M12 1968M01 1968M02 1968M03 1968M04 5.22 5.25 5.24 5.25 5.25 5.26 5.26 5.26 5.27 27.66 27.66 27.72 27.79 27.79 28.05 28.11 28.11 28.11 1,967 1,967 1,967 1,967 1,967 1,968 1,968 1,968 1,968 1968M05 1968M06 1968M07 1968M08 1968M09 1968M10 1968M11 1968M12 1969M01 5.28 5.27 5.26 5.26 5.27 5.27 5.28 5.30 5.31 28.11 28.11 28.11 28.05 28.05 28.11 28.31 28.37 28.44 1,968 1,968 1,968 1,968 1,968 1,968 1,968 1,968 1,969 1969M02 1969M03 1969M04 1969M05 1969M06 1969M07 1969M08 1969M09 1969M10 5.32 5.34 5.36 5.38 5.40 5.43 5.44 5.45 5.47 28.57 28.63 28.63 28.70 28.70 28.70 28.63 28.63 28.70 1,969 1,969 1,969 1,969 1,969 1,969 1,969 1,969 1,969 1969M11 1969M12 1970M01 1970M02 1970M03 1970M04 1970M05 1970M06 1970M07 5.50 5.52 5.54 5.59 5.61 5.63 5.66 5.67 5.68 28.77 28.96 29.29 29.35 29.48 29.61 29.61 29.68 29.68 1,969 1,969 1,970 1,970 1,970 1,970 1,970 1,970 1,970 1970M08 1970M09 1970M10 1970M11 1970M12 1971M01 1971M02 1971M03 1971M04 5.69 5.72 5.75 5.79 5.81 5.83 5.86 5.88 5.90 29.68 29.68 29.81 29.94 30.13 30.46 30.72 30.85 31.05 1,970 1,970 1,970 1,970 1,970 1,971 1,971 1,971 1,971 1971M05 1971M06 1971M07 1971M08 1971M09 1971M10 1971M11 1971M12 1972M01 5.93 5.94 5.95 5.96 6.00 6.03 6.06 6.08 6.11 31.11 31.24 31.37 31.37 31.44 31.57 31.64 31.77 32.16 1,971 1,971 1,971 1,971 1,971 1,971 1,971 1,971 1,972 1972M02 1972M03 1972M04 1972M05 1972M06 1972M07 1972M08 1972M09 1972M10 6.14 6.16 6.17 6.23 6.26 6.28 6.32 6.38 6.45 32.29 32.48 32.61 32.61 32.74 33.00 33.00 33.33 33.46 1,972 1,972 1,972 1,972 1,972 1,972 1,972 1,972 1,972 1972M11 1972M12 1973M01 1973M02 1973M03 1973M04 1973M05 1973M06 1973M07 6.50 6.53 6.60 6.67 6.75 6.82 6.92 6.98 7.02 33.66 33.79 34.18 34.37 34.64 34.83 35.09 35.29 35.42 1,972 1,972 1,973 1,973 1,973 1,973 1,973 1,973 1,973 1973M08 1973M09 1973M10 1973M11 1973M12 1974M01 1974M02 1974M03 1974M04 7.07 7.11 7.16 7.25 7.35 7.47 7.63 7.83 7.92 35.42 35.42 35.68 36.14 36.46 36.72 37.05 37.11 37.38 1,973 1,973 1,973 1,973 1,973 1,974 1,974 1,974 1,974 1974M05 1974M06 1974M07 1974M08 1974M09 1974M10 1974M11 1974M12 1975M01 8.04 8.15 8.32 8.50 8.74 8.91 9.08 9.15 9.27 37.57 37.70 37.83 37.90 37.96 38.22 38.48 38.55 38.94 1,974 1,974 1,974 1,974 1,974 1,974 1,974 1,974 1,975 1975M02 1975M03 1975M04 1975M05 1975M06 1975M07 1975M08 1975M09 1975M10 9.41 9.42 9.54 9.62 9.70 9.74 9.80 9.88 9.99 39.14 39.33 39.66 39.85 40.18 40.18 40.11 40.31 40.38 1,975 1,975 1,975 1,975 1,975 1,975 1,975 1,975 1,975 1975M11 1975M12 1976M01 1976M02 1976M03 1976M04 1976M05 1976M06 1976M07 10.10 10.18 10.29 10.51 10.72 11.01 11.23 11.28 11.34 40.51 40.64 40.96 41.22 41.35 41.55 41.61 41.68 41.61 1,975 1,975 1,976 1,976 1,976 1,976 1,976 1,976 1,976 1976M08 1976M09 1976M10 1976M11 1976M12 1977M01 1977M02 1977M03 1977M04 11.46 11.65 11.99 12.25 12.26 12.42 12.66 12.82 12.98 41.75 41.81 41.88 42.01 42.14 42.59 42.79 42.85 43.05 1,976 1,976 1,976 1,976 1,976 1,977 1,977 1,977 1,977 1977M05 1977M06 1977M07 1977M08 1977M09 1977M10 1977M11 1977M12 1978M01 13.14 13.23 13.31 13.43 13.60 13.79 13.92 13.99 14.10 43.18 43.38 43.31 43.31 43.38 43.38 43.44 43.57 43.90 1,977 1,977 1,977 1,977 1,977 1,977 1,977 1,977 1,978 1978M02 1978M03 1978M04 1978M05 1978M06 1978M07 1978M08 1978M09 1978M10 14.25 14.43 14.57 14.70 14.83 14.92 15.00 15.24 15.37 44.03 44.16 44.35 44.42 44.55 44.48 44.42 44.35 44.42 1,978 1,978 1,978 1,978 1,978 1,978 1,978 1,978 1,978 1978M11 1978M12 1979M01 1979M02 1979M03 1979M04 1979M05 1979M06 1979M07 15.53 15.61 15.87 16.11 16.33 16.53 16.71 16.85 17.00 44.55 44.68 45.14 45.27 45.53 45.72 45.85 46.12 46.38 1,978 1,978 1,979 1,979 1,979 1,979 1,979 1,979 1,979 1979M08 1979M09 1979M10 1979M11 1979M12 1980M01 1980M02 1980M03 1980M04 17.20 17.64 17.97 18.22 18.55 19.14 19.47 19.67 19.99 46.44 46.64 46.70 46.96 47.09 47.35 47.94 48.14 48.40 1,979 1,979 1,979 1,979 1,979 1,980 1,980 1,980 1,980 1980M05 1980M06 1980M07 1980M08 1980M09 1980M10 1980M11 1980M12 1981M01 20.20 20.38 20.74 20.99 21.41 21.77 22.23 22.18 22.59 48.66 48.79 48.86 48.92 48.92 48.99 49.31 49.70 50.16 1,980 1,980 1,980 1,980 1,980 1,980 1,980 1,980 1,981 1981M02 1981M03 1981M04 1981M05 1981M06 1981M07 1981M08 1981M09 1981M10 23.03 23.36 23.67 24.04 24.31 24.45 24.68 25.03 25.47 50.55 50.94 51.20 51.46 51.66 51.99 52.12 52.38 52.64 1,981 1,981 1,981 1,981 1,981 1,981 1,981 1,981 1,981 1981M11 1981M12 1982M01 1982M02 1982M03 1982M04 1982M05 1982M06 1982M07 25.93 26.19 26.57 26.96 27.19 27.42 27.73 28.02 28.37 52.90 53.03 53.49 53.55 53.55 53.75 54.14 54.73 54.79 1,981 1,981 1,982 1,982 1,982 1,982 1,982 1,982 1,982 1982M08 1982M09 1982M10 1982M11 1982M12 1983M01 1983M02 1983M03 1983M04 28.89 29.32 29.82 30.23 30.50 30.87 31.29 31.58 31.91 54.73 54.92 55.18 55.31 55.44 55.70 55.70 55.70 55.83 1,982 1,982 1,982 1,982 1,982 1,983 1,983 1,983 1,983 1983M05 1983M06 1983M07 1983M08 1983M09 1983M10 1983M11 1983M12 1984M01 32.18 32.37 32.63 32.80 33.23 33.73 34.10 34.25 34.66 55.96 56.16 56.36 56.55 56.68 56.68 56.81 56.94 57.14 1,983 1,983 1,983 1,983 1,983 1,983 1,983 1,983 1,984 1984M02 1984M03 1984M04 1984M05 1984M06 1984M07 1984M08 1984M09 1984M10 35.08 35.33 35.60 35.82 36.03 36.11 36.30 36.59 36.94 57.33 57.40 57.46 57.53 57.73 57.66 57.53 57.60 57.92 1,984 1,984 1,984 1,984 1,984 1,984 1,984 1,984 1,984 1984M11 1984M12 1985M01 1985M02 1985M03 1985M04 1985M05 1985M06 1985M07 37.23 37.46 37.87 38.34 38.66 38.94 39.21 39.45 39.53 57.99 58.05 58.38 58.64 58.83 58.90 58.90 58.90 58.90 1,984 1,984 1,985 1,985 1,985 1,985 1,985 1,985 1,985 1985M08 1985M09 1985M10 1985M11 1985M12 1986M01 1986M02 1986M03 1986M04 39.61 39.84 40.24 40.55 40.79 40.99 41.14 41.34 41.42 58.70 58.77 58.83 58.90 58.97 59.16 59.10 58.90 58.90 1,985 1,985 1,985 1,985 1,985 1,986 1,986 1,986 1,986 1986M05 1986M06 1986M07 1986M08 1986M09 1986M10 1986M11 1986M12 1987M01 41.62 41.69 41.69 41.81 41.93 42.13 42.33 42.48 42.72 58.90 58.90 58.70 58.51 58.57 58.38 58.31 58.38 58.70 1,986 1,986 1,986 1,986 1,986 1,986 1,986 1,986 1,987 1987M02 1987M03 1987M04 1987M05 1987M06 1987M07 1987M08 1987M09 1987M10 42.96 43.07 43.23 43.43 43.59 43.67 43.82 44.10 44.45 58.77 58.77 58.90 58.90 58.97 58.97 58.90 58.83 58.90 1,987 1,987 1,987 1,987 1,987 1,987 1,987 1,987 1,987 1987M11 1987M12 1988M01 1988M02 1988M03 1988M04 1988M05 1988M06 1988M07 44.61 44.69 44.93 45.12 45.32 45.44 45.60 45.75 45.83 58.90 58.97 59.23 59.36 59.36 59.49 59.62 59.68 59.68 1,987 1,987 1,988 1,988 1,988 1,988 1,988 1,988 1,988 1988M08 1988M09 1988M10 1988M11 1988M12 1989M01 1989M02 1989M03 1989M04 46.03 46.27 46.58 46.90 47.09 47.41 47.80 48.08 48.32 59.62 59.68 59.75 59.94 60.07 60.60 60.79 60.86 61.25 1,988 1,988 1,988 1,988 1,988 1,989 1,989 1,989 1,989 1989M05 1989M06 1989M07 1989M08 1989M09 1989M10 1989M11 1989M12 1990M01 48.55 48.75 48.83 48.95 49.18 49.58 49.85 50.05 50.52 61.31 61.38 61.31 61.31 61.38 61.57 61.70 61.90 62.23 1,989 1,989 1,989 1,989 1,989 1,989 1,989 1,989 1,990 1990M02 1990M03 1990M04 1990M05 1990M06 1990M07 1990M08 1990M09 1990M10 50.92 51.11 51.31 51.47 51.70 51.86 52.22 52.49 52.93 62.49 62.49 62.62 62.75 62.81 62.81 63.01 63.20 63.66 1,990 1,990 1,990 1,990 1,990 1,990 1,990 1,990 1,990 1990M11 1990M12 1991M01 1991M02 1991M03 1991M04 1991M05 1991M06 1991M07 53.24 53.36 53.69 54.11 54.42 54.63 54.84 55.10 55.30 63.53 63.60 63.99 64.27 64.27 64.55 64.73 65.11 65.85 1,990 1,990 1,991 1,991 1,991 1,991 1,991 1,991 1,991 1991M08 1991M09 1991M10 1991M11 1991M12 1992M01 1992M02 1992M03 1992M04 55.46 55.72 55.98 56.34 56.50 56.86 57.17 57.43 57.64 65.85 65.85 66.88 67.16 67.25 67.63 68.00 68.28 68.56 1,991 1,991 1,991 1,991 1,991 1,992 1,992 1,992 1,992 1992M05 1992M06 1992M07 1992M08 1992M09 1992M10 1992M11 1992M12 1993M01 57.90 58.06 58.16 58.31 58.42 58.68 59.09 59.25 59.56 68.74 68.93 69.12 69.12 69.12 69.12 69.40 69.49 70.70 1,992 1,992 1,992 1,992 1,992 1,992 1,992 1,992 1,993 1993M02 1993M03 1993M04 1993M05 1993M06 1993M07 1993M08 1993M09 1993M10 59.77 59.98 60.24 60.44 60.81 61.02 61.07 61.22 61.53 71.26 71.45 71.64 71.73 71.92 72.29 72.29 72.20 72.20 1,993 1,993 1,993 1,993 1,993 1,993 1,993 1,993 1,993 1993M11 1993M12 1994M01 1994M02 1994M03 1994M04 1994M05 1994M06 1994M07 61.74 61.85 62.16 62.42 62.57 62.68 63.04 63.14 63.30 72.29 72.48 72.85 73.41 73.50 73.60 73.78 73.88 74.06 1,993 1,993 1,994 1,994 1,994 1,994 1,994 1,994 1,994 1994M08 1994M09 1994M10 1994M11 1994M12 1995M01 1995M02 1995M03 1995M04 63.40 63.61 63.92 64.18 64.34 64.60 65.07 65.64 65.90 74.25 74.06 73.97 74.06 74.25 74.53 74.90 74.90 74.99 1,994 1,994 1,994 1,994 1,994 1,995 1,995 1,995 1,995 1995M05 1995M06 1995M07 1995M08 1995M09 1995M10 1995M11 1995M12 1996M01 66.31 66.73 66.83 67.04 67.19 67.45 67.82 67.92 68.20 74.99 75.09 75.27 75.27 75.27 75.09 75.09 75.37 75.55 1,995 1,995 1,995 1,995 1,995 1,995 1,995 1,995 1,996 1996M02 1996M03 1996M04 1996M05 1996M06 1996M07 1996M08 1996M09 1996M10 68.47 68.74 69.00 69.27 69.40 69.33 69.40 69.47 69.53 76.02 76.02 76.02 76.11 76.21 76.30 76.30 76.30 76.30 1,996 1,996 1,996 1,996 1,996 1,996 1,996 1,996 1,996 1996M11 1996M12 1997M01 1997M02 1997M03 1997M04 1997M05 1997M06 1997M07 69.80 69.87 70.07 70.13 70.33 70.40 70.60 70.60 70.60 76.21 76.49 77.14 77.23 77.23 77.14 77.33 77.42 78.07 1,996 1,996 1,997 1,997 1,997 1,997 1,997 1,997 1,997 1997M08 1997M09 1997M10 1997M11 1997M12 1998M01 1998M02 1998M03 1998M04 70.67 70.73 70.93 71.20 71.20 71.40 71.60 71.80 71.86 78.17 77.98 77.89 77.89 78.07 78.07 78.26 78.17 78.26 1,997 1,997 1,997 1,997 1,997 1,998 1,998 1,998 1,998 1998M05 1998M06 1998M07 1998M08 1998M09 1998M10 1998M11 1998M12 1999M01 72.00 72.06 72.06 72.13 72.13 72.26 72.33 72.40 72.46 78.35 78.45 78.73 78.54 78.35 78.26 78.26 78.35 78.26 1,998 1,998 1,998 1,998 1,998 1,998 1,998 1,998 1,999 1999M02 1999M03 1999M04 1999M05 1999M06 1999M07 1999M08 1999M09 1999M10 72.60 72.73 72.93 73.06 73.06 73.26 73.33 73.46 73.73 78.35 78.35 78.73 78.73 78.82 79.19 79.10 78.91 78.82 1,999 1,999 1,999 1,999 1,999 1,999 1,999 1,999 1,999 1999M11 1999M12 2000M01 2000M02 2000M03 2000M04 2000M05 2000M06 2000M07 73.86 73.93 74.06 74.33 74.53 74.59 74.86 75.06 75.19 79.01 79.29 79.47 79.56 79.56 79.56 79.47 79.84 80.22 1,999 1,999 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2000M08 2000M09 2000M10 2000M11 2000M12 2001M01 2001M02 2001M03 2001M04 75.26 75.39 75.66 75.86 75.92 76.26 76.52 76.59 76.92 80.03 80.22 80.12 80.22 80.87 80.59 81.06 81.06 81.43 2,000 2,000 2,000 2,000 2,000 2,001 2,001 2,001 2,001 2001M05 2001M06 2001M07 2001M08 2001M09 2001M10 2001M11 2001M12 2002M01 77.12 77.32 77.39 77.39 77.39 77.52 77.65 77.72 78.05 81.71 81.80 81.90 81.71 81.71 81.62 81.43 82.18 82.27 2,001 2,001 2,001 2,001 2,001 2,001 2,001 2,001 2,002 2002M02 2002M03 2002M04 2002M05 2002M06 2002M07 2002M08 2002M09 2002M10 78.32 78.52 78.72 78.92 78.98 79.12 79.25 79.38 79.58 82.55 82.74 82.64 82.74 82.74 82.83 82.74 82.74 82.64 2,002 2,002 2,002 2,002 2,002 2,002 2,002 2,002 2,002 2002M11 2002M12 2003M01 2003M02 2003M03 2003M04 2003M05 2003M06 2003M07 79.85 79.91 80.25 80.38 80.65 80.85 81.05 81.11 81.25 82.36 83.11 83.11 83.58 83.67 83.39 83.20 83.48 83.67 2,002 2,002 2,003 2,003 2,003 2,003 2,003 2,003 2,003 2003M08 2003M09 2003M10 2003M11 2003M12 2004M01 2004M02 2004M03 2004M04 81.45 81.58 81.64 81.84 81.91 82.04 82.24 82.51 82.71 83.67 83.58 83.58 83.39 84.04 84.04 84.23 84.51 84.79 2,003 2,003 2,003 2,003 2,003 2,004 2,004 2,004 2,004 2004M05 2004M06 2004M07 2004M08 2004M09 2004M10 2004M11 2004M12 2005M01 82.91 83.04 83.11 83.31 83.31 83.31 83.37 83.57 83.57 84.97 84.97 85.16 85.25 85.07 85.16 84.97 85.91 85.25 2,004 2,004 2,004 2,004 2,004 2,004 2,004 2,004 2,005 2005M02 2005M03 2005M04 2005M05 2005M06 2005M07 2005M08 2005M09 2005M10 83.84 84.11 84.24 84.51 84.51 84.84 84.97 84.97 85.17 85.63 86.00 85.81 86.00 86.09 86.47 86.56 86.65 86.75 2,005 2,005 2,005 2,005 2,005 2,005 2,005 2,005 2,005 2005M11 2005M12 2006M01 2006M02 2006M03 2006M04 2006M05 2006M06 2006M07 85.24 85.24 85.44 85.64 85.84 86.10 86.37 86.44 86.70 86.47 87.12 86.84 87.21 87.21 87.49 87.49 87.68 88.05 2,005 2,005 2,006 2,006 2,006 2,006 2,006 2,006 2,006 2006M08 2006M09 2006M10 2006M11 2006M12 2007M01 2007M02 2007M03 2007M04 86.84 86.77 86.70 86.77 86.84 86.90 87.17 87.30 87.43 87.87 87.59 87.68 87.68 88.33 88.33 88.71 88.89 89.36 2,006 2,006 2,006 2,006 2,006 2,007 2,007 2,007 2,007 2007M05 2007M06 2007M07 2007M08 2007M09 2007M10 2007M11 2007M12 2008M01 87.70 87.90 88.10 88.23 88.23 88.50 88.83 89.10 89.50 89.36 89.36 89.83 89.73 89.92 90.11 90.57 91.13 90.85 2,007 2,007 2,007 2,007 2,007 2,007 2,007 2,007 2,008 2008M02 2008M03 2008M04 2008M05 2008M06 2008M07 2008M08 2008M09 2008M10 89.70 90.16 90.36 90.83 91.23 91.69 91.83 91.56 91.56 91.22 91.69 91.50 92.06 92.25 92.81 92.53 92.44 92.25 2,008 2,008 2,008 2,008 2,008 2,008 2,008 2,008 2,008 2008M11 2008M12 2009M01 2009M02 2009M03 2009M04 2009M05 2009M06 2009M07 91.23 91.09 90.96 91.16 91.23 91.43 91.63 91.69 91.69 91.78 92.16 91.69 92.25 92.06 92.16 92.06 92.34 92.34 2,008 2,008 2,009 2,009 2,009 2,009 2,009 2,009 2,009 2009M08 2009M09 2009M10 2009M11 2009M12 2010M01 2010M02 2010M03 2010M04 91.96 91.76 91.83 91.83 92.03 92.16 92.22 92.49 92.82 92.53 92.25 92.25 92.16 92.90 92.34 92.72 93.18 93.28 2,009 2,009 2,009 2,009 2,009 2,010 2,010 2,010 2,010 2010M05 2010M06 2010M07 2010M08 2010M09 2010M10 2010M11 2010M12 2011M01 92.89 92.89 93.22 93.42 93.22 93.42 93.42 93.76 94.14 93.18 93.18 93.37 93.46 93.37 93.46 93.56 94.12 93.93 2,010 2,010 2,010 2,010 2,010 2,010 2,010 2,010 2,011 2011M02 2011M03 2011M04 2011M05 2011M06 2011M07 2011M08 2011M09 2011M10 94.42 94.79 95.26 95.35 95.44 95.72 96.00 96.00 96.56 94.49 95.05 95.05 95.05 95.14 95.33 95.42 95.61 95.61 2,011 2,011 2,011 2,011 2,011 2,011 2,011 2,011 2,011 2011M11 2011M12 2012M01 2012M02 2012M03 2012M04 2012M05 2012M06 2012M07 96.47 96.84 97.12 97.49 97.95 98.42 98.42 98.60 98.70 95.79 95.98 95.89 96.54 97.10 96.91 96.91 96.73 97.10 2,011 2,011 2,012 2,012 2,012 2,012 2,012 2,012 2,012 2012M08 2012M09 2012M10 2012M11 2012M12 2013M01 2013M02 2013M03 2013M04 99.07 99.07 99.07 98.88 99.07 99.26 99.35 99.53 99.53 97.47 97.57 97.57 97.66 97.94 97.47 98.03 98.50 98.03 2,012 2,012 2,012 2,012 2,012 2,013 2,013 2,013 2,013 2013M05 2013M06 2013M07 2013M08 2013M09 2013M10 2013M11 2013M12 2014M01 99.53 99.81 99.91 100.28 100.00 99.81 99.53 99.72 99.91 98.41 98.50 98.97 98.97 98.97 98.78 98.97 99.34 98.78 2,013 2,013 2,013 2,013 2,013 2,013 2,013 2,013 2,014 2014M02 2014M03 2014M04 2014M05 2014M06 2014M07 2014M08 2014M09 2014M10 99.81 99.91 100.09 100.00 100.09 100.00 100.19 99.81 99.91 99.25 99.53 99.34 99.25 99.53 99.81 99.81 99.81 99.53 2,014 2,014 2,014 2,014 2,014 2,014 2,014 2,014 2,014 2014M11 2014M12 2015M01 2015M02 2015M03 2015M04 2015M05 2015M06 2015M07 99.72 99.72 99.35 99.72 99.81 100.00 100.09 100.28 100.19 99.53 99.53 98.50 99.20 99.70 100.20 100.40 100.40 100.60 2,014 2,014 2,015 2,015 2,015 2,015 2,015 2,015 2,015 2015M08 2015M09 2015M10 2015M11 2015M12 2016M01 2016M02 2016M03 2016M04 100.37 100.00 100.19 99.81 99.81 99.60 99.40 99.60 99.50 100.60 100.40 100.40 99.70 99.70 99.00 99.30 100.00 100.10 2,015 2,015 2,015 2,015 2,015 2,016 2,016 2,016 2,016 2016M05 2016M06 2016M07 2016M08 2016M09 2016M10 2016M11 2016M12 2017M01 99.80 99.90 100.10 100.30 100.10 100.00 99.90 100.30 100.60 100.60 100.70 101.10 101.00 101.00 101.20 100.50 101.20 100.60 2,016 2,016 2,016 2,016 2,016 2,016 2,016 2,016 2,017 2017M02 2017M03 2017M04 2017M05 2017M06 2017M07 2017M08 2017M09 2017M10 101.00 101.00 101.40 101.20 101.10 101.20 101.50 101.20 101.00 101.20 101.40 101.80 101.80 102.10 102.50 102.60 102.70 102.50 2,017 2,017 2,017 2,017 2,017 2,017 2,017 2,017 2,017 2017M11 2017M12 2018M01 2018M02 2018M03 2018M04 2018M05 2018M06 2018M07 100.80 101.20 101.50 101.50 101.80 101.90 102.20 102.40 102.70 102.10 102.60 102.00 102.30 102.90 103.10 103.90 104.00 104.40 2,017 2,017 2,018 2,018 2,018 2,018 2,018 2,018 2,018 2018M08 2018M09 2018M10 2018M11 2018M12 2019M01 2019M02 103.10 102.60 102.60 102.40 102.30 102.40 102.50 104.50 104.70 104.90 104.20 104.20 103.40 103.80 2,018 2,018 2,018 2,018 2,018 2,019 2,019 Does the exchange rate of your data appear to support the theory of Purchasing Power Parity? Requirements: • • descriptive analysis; Graph of Nominal Exchange Rate and Relative Prices over time (Figure 16-2 from text, “The Yen/Dollar Exchange Rate and Relative Japan-US Price Levels, 1980-2012,” is a good model); To construct the graph, you will need 3 data series: the official exchange rate, your country’s CPI level, and the US CPI level. First, construct a ratio of your country’s CPI level to the US CPI level. Normalize that ratio so that it is 100 in the base year. (Divide the entire series by the value of the first year, and multiply by 100.) Also, normalize the exchange rate to be 100 in the base year(2010). (Divide the entire series by the value of the first year, and multiply by 100.) Plot the normalized price ratio and the normalized exchange rate on the same graph.
Purchase answer to see full attachment