As we prepare for the release of second quarter GDP data over the next few weeks, here is a chart showing cumulative GDP growth (inflation adjusted) and Price inflation for G7 countries. While inflation has been high everywhere (except for Japan), the US comes out looking very well relatively on GDP growth. That’s especially true compared to the UK and Germany, which have also had high price inflation, but have actually had negative economic growth since the end of 2019.
Economist Writing Every Day 