Per Goldman Sachs' research, the 2007 (actual) + estimated 2008 Inflation Rates of some of the world's largest economies:
*United States:
2007 = 2.9%
2008 = 3.8%
*Germany:
2007 = 2.1%
2008 = 2.9%
*China:
2007 = 4.8%
2008 = 6.8%
*Australia:
2007 = 2.3%
2008 = 3.7%
*Japan:
2007 = 0.0%
2008 = 0.8%
Data Courtesy: Goldman Sachs research