LONDON (Reuters) - Growth rates among the world’s major economies are synchronizing at levels not seen in years, yet the missing link to the boom is inflation.
In much of Europe, as well as the United States, inflation remains tame, keeping central banks from rushing into tighter monetary policies.
That has underpinned a bull run in world stock markets and contributed to the flattest U.S. Treasury yield curve in a decade.
There are, however, positive developments. The threat of deflation -- falling prices -- that faced many major economies just a couple of years ago, has abated, while strong growth has lifted expectations for a pick-up in inflation from low levels.
Meanwhile, major developing economies, such as Russia and India, have contained high inflation in recent years through prudent central bank policies.
In this interactive graphic tmsnrt.rs/2BeFPKm , Reuters highlights the main trends over the past five years and takes a look at the key indicators financial markets and economists track closely to get a sense of world inflation trends.
Reporting by Michael Ovaska, Dhara Ranasinghe and Jessica Wang; Editing by Patrick Johnston and Matthew Mpoke Bigg