Consider this chart from the latest EU monthly update:
In the EU area, prices changes are stabilizing. Ini the US and UK, they're dropping. Japan is seeing a price increase, but they're in desperate need of price increases.
Let's look at some charts from around the world:
While core US CPI is rising, the decrease in total CPI will help to slow the rise.
Australian CPI is clearly dropping
China's inflation rate has clearly dropping, while the EU's rate has stabilized.
Brazilian inflation is also on a downward path.
India remains the primary problem area, with inflation over 8% on average for the last year or so. In addition, it appears their inflation is picking up, according to the latest inflation report. However, they're one of the only countries experiencing this.