European Union (EU) and US inflation - Selected Years Data based on OECD estimates With respect to inflation, one could state that U.S. inflation and E.U. inflation were directly related, but E.U. inflation was generally more than U.S. inflation. U.S. inflation and E.U. inflation were inversely related, but E.U. inflation was generally more than U.S. inflation. U.S. inflation and E.U. inflation were directly related, but U.S. inflation was generally more than E.U. inflation. U.S. inflation and E.U, inflation were inversely related, but U.S. inflation was generally more than E.U. inflation. both the United States and the European Union experienced deflation from about mid-1980 until about mid1986..