The answer is already given in the red, may you kindly elaborate the answer please? thanks a lot!

Q1. Go to the Federal Reserve Economic Data (FRED) site and look up the inflation rates for any three of the G7 economies (Britain, France, Germany, Italy, Japan, Canada and the United States). What similarities do you notice? Can you summarise the history of the G7 inflation rates as a series of three or four stages? In the post war period, inflation in the typical rich countries had these stages: 1950ish to 1970ish - moderate 3% to 5% inflation 1970ish to 1980ish - double digit inflation . . . 1980ish to 1990s - falling inflation 2000 onwards - inflation in the 1% to 3% range (except Japan, which was slightly negative) Inflation rates for the G7 countries are reproduced below1: 25% 20% 15% Annual Inflation 10% USA 59% Canada Italy France Germany 0% Japan 1960 1970 1980 1990 2000 2010 Note that inflation rates in developing countries do not follow the same path