# December Consumer Price Index (CPI) trends — 2020 vs 2023
This chart illustrates the **Consumer Price Index (CPI)** trends for the advanced economies of the **United States**, **United Kingdom**, **Germany**, and **Canada** over two key periods: the peak of the **COVID-19 pandemic in 2020** and the **recovery phase in 2023**.
In **2020**, at the height of the pandemic, inflation trends varied across these countries:
- **United States:** CPI increase of **1.4%**, reflecting moderate inflation amid significant fiscal stimulus and pandemic-related disruptions.
- **United Kingdom:** Minimal inflation at **0.6%**, indicating subdued consumer demand due to lockdowns and economic uncertainty.
- **Germany:** Deflation of **-0.7%**, likely driven by reduced consumer spending and temporary VAT cuts as part of government measures to support the economy.
- **Canada:** Modest inflation rate of **0.7%**, reflecting stability but also suppressed demand during the pandemic.
By **2023**, as economies began recovering from the pandemic, inflation rates changed:
- **United States:** CPI of **3.4%**, reflecting restored consumer spending and wage growth, as well as higher demand.
- **Canada:** CPI of **3.4%**, reflecting restored consumer spending and wage growth, as well as higher demand.
- **United Kingdom:** Higher inflation at **4.0%**, influenced by factors such as the impact of Brexit, supply chain disruptions, and rising energy costs.
- **Germany:** CPI increase to **3.8%**, signaling recovery, but still tempered by ongoing energy price fluctuations and global supply chain issues.
This comparison highlights the **differing inflationary impacts of the pandemic** on each economy and their respective **recovery trajectories** in the post-pandemic period.