The inflation rate in the United States is expected to decrease to 2.1 percent by 2029. 2022 saw a year of exceptionally high inflation, reaching eight percent for the year. The data represents U.S. city averages. The base period was 1982-84. In economics, the inflation rate is a measurement of inflation, the rate of increase of a price index (in this case: consumer price index). It is the percentage rate of change in prices level over time. The rate of decrease in the purchasing power of money is approximately equal. According to the forecast, prices will increase by 2.9 percent in 2024. The annual inflation rate for previous years can be found here and the consumer price index for all urban consumers here. The monthly inflation rate for the United States can also be accessed here. Inflation in the U.S.Inflation is a term used to describe a general rise in the price of goods and services in an economy over a given period of time. Inflation in the United States is calculated using the consumer price index (CPI). The consumer price index is a measure of change in the price level of a preselected market basket of consumer goods and services purchased by households. This forecast of U.S. inflation was prepared by the International Monetary Fund. They project that inflation will stay higher than average throughout 2023, followed by a decrease to around roughly two percent annual rise in the general level of prices until 2028. Considering the annual inflation rate in the United States in 2021, a two percent inflation rate is a very moderate projection. The 2022 spike in inflation in the United States and worldwide is due to a variety of factors that have put constraints on various aspects of the economy. These factors include COVID-19 pandemic spending and supply-chain constraints, disruptions due to the war in Ukraine, and pandemic related changes in the labor force. Although the moderate inflation of prices between two and three percent is considered normal in a modern economy, countries’ central banks try to prevent severe inflation and deflation to keep the growth of prices to a minimum. Severe inflation is considered dangerous to a country’s economy because it can rapidly diminish the population’s purchasing power and thus damage the GDP .

This dataset provides values for INFLATION RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

At the end of 2023, Zimbabwe had the highest inflation rate in the world, at 667.36 percent change compared to the previous year. Inflation in industrialized and in emerging countries Higher inflation rates are more present in less developed economies, as they often lack a sufficient central banking system, which in turn results in the manipulation of currency to achieve short term economic goals. Thus, interest rates increase while the general economic situation remains constant. In more developed economies and in the prime emerging markets, the inflation rate does not fluctuate as sporadically. Additionally, the majority of countries that maintained the lowest inflation rate compared to previous years are primarily oil producers or small island independent states. These countries experienced deflation, which occurs when the inflation rate falls below zero; this may happen for a variety of factors, such as a shift in supply or demand of goods and services, or an outflow of capital.

Inflation in the table below is defined as the percent change in the CPI from the same month last year. The first column of numbers shows the latest value available from the national authorities and the next two columns show the levels of annual inflation three months and one year prior to the latest release. The data are updated daily. Over long stretches of time - typically years - inflation is a byproduct of the expansion of money supply. In the short run the inflation rate fluctuates with economic growth as recessions slow down the increase in prices and rapid output growth accelerates it. Shits in exchange rates, commodity prices, and natural phenomena like droughts also have an impact. Over time, however, these factors have only a transitory effect and the only variable that matters is money supply growth. The control of inflation is delegated to central banks that typically try to balance between relatively low inflation and low unemployment. For more, you can read our articles about optimal inflation and the causes of inflation in the short run and the long run.

In November 2024, the inflation rate in Turkey corresponded to 47.1 percent. The monthly inflation rate in Turkey reached 85.51 percent in October 2022, the highest inflation rate recorded during the provided time interval. In June 2023, the year-on-year change in the Consumer Price Index (CPI) was recorded at 38.21 percent, the lowest since January 2022. Since the second half of 2019, Turkey’s inflation rate has consistently been in double digits, with inflation accelerating at the fastest rate in 2022. High production costs In Turkey, domestic producer price indices have been continuously rising, which has directly resulted in a price increase in all consumer goods and services. Accordingly, the Consumer Price Index (CPI) in all commodity groups increased extremely since 2022. In the same year, the food and non-alcoholic beverages category had one of the highest inflation rates in the CPI. This particularly affected Turkish consumers, as these products accounted for the highest share of household expenditure in 2023. Soaring food prices Since 2020, food prices have increased significantly around the world, and Turkey is no exception. Although inflation has started to slow down recently, food prices in Turkey continue to go up steadily, increasing by 48.6 percent in November 2024 compared to the same month in the previous year. It is not surprising that food inflation has not simmered down, as the producer price index (PPI) of agricultural products followed a constant increasing trend in the country over the past few years.

The Consumer Price Index in the United States increased 0.20 percent in February of 2025 over the previous month. This dataset provides - United States Inflation Rate MoM - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In economics, the inflation rate is a measure of the change in price of a basket of goods. The most common measure being the consumer price index. It is the percentage rate of change in price level over time, and also indicates the rate of decrease in the purchasing power of money. The annual rate of inflation for 2023, was 4.1 percent higher in the United States when compared to the previous year. More information on inflation and the consumer price index can be found on our dedicated topic page. Additionally, the monthly rate of inflation in the United States can be accessed here. Inflation and purchasing power Inflation is a key economic indicator, and gives economists and consumers alike a look at changes in prices in the wider economy. For example, if an average pair of socks costs 100 dollars one year and 105 dollars the following year, the inflation rate is five percent. This means the amount of goods an individual can purchase with a unit of currency has decreased. This concept is often referred to as purchasing power. The data presents the average rate of inflation in a year, whereas the monthly measure of inflation measures the change in prices compared with prices one year ago. For example, monthly inflation in the U.S. reached a peak in June 2022 at 9.1 percent. This means that prices were 9.1 percent higher than they were in June of 2021. The purchasing power is the extent to which a person has available funds to make purchases. The Big Mac Index has been published by The Economist since 1986 and exemplifies purchasing power on a global scale, allowing us to see note the differences between different countries currencies. Switzerland for example, has the most expensive Big Mac in the world, costing consumers 6.71 U.S. dollars as of July 2022, whereas a Big Mac cost 5.15 dollars in the United States, and 4.77 dollars in the Euro area. One of the most important tools in influencing the rate of inflation is interest rates. The Federal Reserve of the United States has the capacity to make changes to the federal interest rate . Changes to the rate of inflation are thought to be an imbalance between supply and demand. After COVID-19 related lockdowns came to an end there was a sudden increase in demand for goods and services with consumers having more funds than usual thanks to reduced spending during lockdown and government funded economic support. Additionally, supply-chain related bottlenecks also due to lockdowns around the world and the Russian invasion of Ukraine meant that there was a decrease in the supply of goods and services. By increasing the interest rate, the Federal Reserve aims to reduce spending, and thus bring demand back into balance with supply.

This data package includes the underlying data files to replicate the data and charts presented in The Inflation Surge in Europe by Patrick Honohan, PIIE Policy Brief 24-2.

If you use the data, please cite as: Honohan, Patrick. 2024. The Inflation Surge in Europe. PIIE Policy Brief 24-2. Washington, DC: Peterson Institute for International Economics.

Inflation Rate in Uganda increased to 3.70 percent in February from 3.60 percent in January of 2025. This dataset provides - Uganda Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2021, the inflation rate in Ghana amounted to about 9.98 percent compared to the previous year. Ghana’s inflation peaked at almost 17.5 percent in 2016 and is predicted to decrease to 8 percent by 2029.

Steady is best for inflation

According to economists, a steady inflation rate between two and three percent is desirable to achieve a stable economy in a country. Inflation is the increase in the price level of consumer goods and services over a certain time period. A high inflation rate is often caused by excessive money supply and can turn into hyperinflation, i.e. if inflation occurs too quickly and rapidly, it can devalue currency and cause a recession and even economic collapse. This scenario is currently taking place in Venezuela , for example. The opposite of inflation, the decrease in the price level of goods and services below zero percent, is called deflation. While hyperinflation devalues money, deflation usually increases its value. Both events can damage an economy severely.

Is Ghana’s economy at risk?

Ghana’s economy is considered quite stable and fast-growing, and is rich in oil, diamonds, and gold. After struggling in the years around 2015 due to increased government spending and plummeting oil prices, it is now on an upswing again. This is also reflected in the decreasing inflation rate, and other key indicators like unemployment and rapid GDP growth support this theory. However, Ghana’s government debt is still struggling with the consequences of the 2015 crisis and forecast to keep skyrocketing during the next few years.

Inflation Rate in Japan decreased to 3.70 percent in February from 4 percent in January of 2025. This dataset provides the latest reported value for - Japan Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In January 2025, the UK inflation rate for goods was one percent and five percent for services. Prices for goods accelerated significantly, sharply between in 2021 and 2022 before falling in 2023. By comparison, prices for services initially grew at a more moderate rate, but have also not fallen as quickly. The overall CPI inflation rate for the UK reached a recent high of 11.1 percent in October 2022 and remained in double-figures until April 2023, when it fell to 8.7 percent. As of December 2024, the UK's inflation rate was 2.5 percent, down from 2.6 percent in the previous month. Sectors driving high inflation In late 2024, communication was the sector with the highest inflation rate, with prices increasing by 6.1 percent as of December 2024. During the recent period of high inflation that eased in 2023, food and energy prices were particular high, with housing and energy inflation far higher than in any other sector, peaking at 26.6 percent towards the end of 2022. High food and energy prices since 2021 have been one of the main causes of the cost of living crisis in the UK, especially for low-income households that spend a higher share of their income on these categories. This is likely one of the factors driving increasing food bank usage in the UK, which saw approximately 3.12 million people use a food bank in 2023/24, compared with 1.9 million just before the COVID-19 pandemic. The global inflation crisis The UK has not been alone in suffering rapid price increases since 2021. After the start of the COVID-19 pandemic, a series of economic and geopolitical shocks had a dramatic impact on the global economy. A global supply chain crisis failed to meet rising demand in 2021, leading to the beginning of an Inflation Crisis, which was only exacerbated by Russia's invasion of Ukraine in February 2022. The war directly influenced the prices of food and energy, as both countries were major exporters of important crops. European imports of hydrocarbons from Russia were also steadily reduced throughout 2022 and 2023, resulting in higher energy prices throughout the year.

The inflation rate in Norway was high during the fall of 2021, when electricity prices in the country were extremely high, and through much of 2022 and the first half of 2023 as the Russian war in Ukraine caused rising inflation. However, the inflation rate in Norway has fallen somewhat since, reaching 3.6 percent in February 2025.

As of December 2024, the inflation rate in the European Union was 2.7 percent, with prices rising fastest in Romania, which had an inflation rate of 5.5 percent. By contrast, both Ireland and Italy saw low inflation rates during the same period, with Ireland having the lowest inflation rate in the EU during this month. The rate of inflation in the EU in the October 2022 was higher than at any other time, with the peak prior to 2021 recorded in July 2008 when prices were growing by 4.4 percent year-on-year. Before the recent rises in inflation, price rises in the EU had been kept at relatively low levels, with the inflation rate remaining below three percent between January 2012 and August 2021. Rapid recovery and energy costs driving inflation The reopening of the European economy in 2021 following the sudden shock of COVID-19 in 2020 is behind many of the factors that have caused prices to rise so quickly in 2022. Global supply chains have not yet recovered from production issues, travel restrictions, and workforce problems brought about by the pandemic. Rising energy costs have only served to exacerbate supply problems, particularly with regard to the transport sector, which had the highest inflation rate of any sector in the EU in December 2021. High inflation rates mirrored in the U.S. The high inflation rates seen in Europe have been reflected in other parts of the world. In the United States, for example, the consumer price index reached a 40-year-high of seven percent in December 2021, influenced by many of the same factors driving European inflation. Nevertheless, it is hoped that once these supply chain issues ease, inflation levels will start to fall throughout the course of 2022.

Inflation Rate in Guyana decreased to 3 percent in February from 3.10 percent in January of 2025. This dataset provides - Guyana Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Inflation Rate in Thailand decreased to 1.08 percent in February from 1.32 percent in January of 2025. This dataset provides the latest reported value for - Thailand Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In the United States, year-on-year (YoY) inflation for online grocery products was approximately 13.6 percent as of October 2022. From June 2021 to October 2022, monthly inflation in this category was the highest in August 2022, at roughly 17 percent.

Inflationary market

Inflation has skyrocketed. In the United States, the inflation rate peaked at 8.3 percent as of June 2022. The last time the U.S. saw such high values was in 1990, when the inflation rate stood at 5.4 percent. But it's not all doom and gloom. According to a forecast, the global inflation rate will decrease to 4.85 percent in 2023 and continue to decline.

Ever-rising prices

Consumers are changing their shopping habits in response to the bleakest inflationary market the industry has seen in decades. Rising grocery prices are the main issue affecting online shoppers worldwide. While grocery products are the latest items to be cut off by consumers in times of instability, rising prices will cause shoppers to purchase less and find cheaper alternatives for fashion items. Moreover, in February 2022, roughly 62 percent of global buyers changed their purchase habits with alcoholic beverages, 57 percent with packaged food, and 44 percent with fresh food.

Inflation Rate in Greece decreased to 2.50 percent in February from 2.70 percent in January of 2025. This dataset provides the latest reported value for - Greece Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Inflation Rate in Egypt decreased to 12.80 percent in February from 24 percent in January of 2025. This dataset provides - Egypt Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The latest inflation rate, i.e. the percent change in the CPI from a year ago to now, in Sri Lanka was -3.87 percent. That number was released in . It shows an increase from the inflation rate in the previous month when it stood at -4 percent. Compared to a year ago, we see a decrease from the...