Refer to the table below to answer the following question.

Table

Region

2006

2007

2008

United State

Euro area

Japan

117.1

113.6

98.1

120.4

117.1

98.1

124.0

119.6

98.8

14. Refer to Table above, The IMF World Economic Outlook reports the price level data given in the table. The region with the highest inflation rate in 2007 is ________. The region with the highest inflation rate in 2008 is ________.

A) the Euro area; the United States

B) Japan; the United States

C) the Euro area; Japan

D) the United States; Japan

E) the United States; the Euro area