What is the current level of inflation in the UK?

What is a good way to gauge and track Inflation on an aggregate Worldwide level?

• When Country A has a lower inflation, country B at the same time can have a higher inflation while country C even might have a deflation of sort! Also the relative sizes of the economies or GDPs or counties A, B and C are different. The question is what would be a good way to measure inflation on a worldwide basis? How would a portfolio look like which tracks inflation on the global level but only tracks it and does not want to gain any profits on top of that? - Would you compare it to some commodities or foodstuffs? For example I read somewhere (well, obviously it was some gold bug site) that a chicken in the time of Muhammad cost 1 silver coin (1 ounce I gess). Today you can buy the same chicken for the same one silver coin. The cost of a good hand made suit in 1900 was 1 ounce of gold. Today the same quality hand made suit also cost 1 ounce of gold. But keep in mind the wild fluctuations of commodity prices through history! Fluctuations compared to what? Philosophical question. Chicken or the egg problem. - Would you compare it to a set basket of currencies? (One such basket of currencies is called http://www.investopedia.com/terms/s/sdr.asp) Alternatively, you can make a mix of currencies and commodities as well. - The Permanent Portfolio is interesting as well - though it seems it generates some profit as well - but again it profits compared to what? See:

• Answer:

  You can get answers for all countries from things like this: http://www.slideshare.net/greg_becker/what-inflation-rate-estimate-is-appropriate-for-my-country The difficulty is then two fold: - how should you weight the different countries? (by person or GDP) Lastly, an even harder factor to take into account would be currency. It could be argued that the inflation rate (if weighted by economic size) in US$'s would be not too far from the US inflation rate!