What is the meaning of "altimeter three-zero-one-one"? I've been listening to a lot of liveatc.net recently (mostly at CYVR).

What does it mean when the ATC give an "altimeter" reading (usually around the 3000 area).


  Altimeter three-zero-one-one.


I'm assuming it's like a QNH setting? But not in kPa?

Addon Question:

Is inches of mercury specific to the Americas? North America or other places as well? I've only flown in South Africa where we use kPA (SI). We'd get information from tower along the lines of QNH 1013.
That is a QNH altimeter setting in inches of mercury, with the decimal omitted.  So in the case given, that is a QNH of 30.11 inHg or about 1020 hPa.