Inflation is generally defined as the continued increase in the average prices of goods and services in a given region. Following the extremely high global inflation experienced in the 1980s and 1990s, global inflation has been relatively stable since the turn of the millennium, usually hovering between three and five percent per year. There was a sharp increase in 2008 due to the global financial crisis now known as the Great Recession, but inflation was fairly stable throughout the 2010s, before the current inflation crisis began in 2021. Recent years Despite the economic impact of the coronavirus pandemic, the global inflation rate fell to 3.26 percent in the pandemic's first year, before rising to 4.66 percent in 2021. This increase came as the impact of supply chain delays began to take more of an effect on consumer prices, before the Russia-Ukraine war exacerbated this further. A series of compounding issues such as rising energy and food prices, fiscal instability in the wake of the pandemic, and consumer insecurity have created a new global recession, and global inflation in 2024 is estimated to have reached 5.76 percent. This is the highest annual increase in inflation since 1996. Venezuela Venezuela is the country with the highest individual inflation rate in the world, forecast at around 200 percent in 2022. While this is figure is over 100 times larger than the global average in most years, it actually marks a decrease in Venezuela's inflation rate, which had peaked at over 65,000 percent in 2018. Between 2016 and 2021, Venezuela experienced hyperinflation due to the government's excessive spending and printing of money in an attempt to curve its already-high inflation rate, and the wave of migrants that left the country resulted in one of the largest refugee crises in recent years. In addition to its economic problems, political instability and foreign sanctions pose further long-term problems for Venezuela. While hyperinflation may be coming to an end, it remains to be seen how much of an impact this will have on the economy, how living standards will change, and how many refugees may return in the coming years.

The UK inflation rate was three percent in January 2025, up from 2.5 percent in the previous month, and the fastest rate of inflation since March 2024. Between September 2022 and March 2023, the UK experienced seven months of double-digit inflation, which peaked at 11.1 percent in October 2022. Due to this long period of high inflation, UK consumer prices have increased by over 20 percent in the last three years. As of the most recent month, prices were rising fastest in the communications sector, at 6.1 percent, but were falling in both the furniture and transport sectors, at -0.3 percent and -0.6 percent respectively.
The Cost of Living Crisis High inflation is one of the main factors behind the ongoing Cost of Living Crisis in the UK, which, despite subsiding somewhat in 2024, is still impacting households going into 2025. In December 2024, for example, 56 percent of UK households reported their cost of living was increasing compared with the previous month, up from 45 percent in July, but far lower than at the height of the crisis in 2022. After global energy prices spiraled that year, the UK's energy price cap increased substantially. The cap, which limits what suppliers can charge consumers, reached 3,549 British pounds per year in October 2022, compared with 1,277 pounds a year earlier. Along with soaring food costs, high-energy bills have hit UK households hard, especially lower income ones that spend more of their earnings on housing costs. As a result of these factors, UK households experienced their biggest fall in living standards in decades in 2022/23. Global inflation crisis causes rapid surge in prices The UK's high inflation, and cost of living crisis in 2022 had its origins in the COVID-19 pandemic. Following the initial waves of the virus, global supply chains struggled to meet the renewed demand for goods and services. Food and energy prices, which were already high, increased further in 2022. Russia's invasion of Ukraine in February 2022 brought an end to the era of cheap gas flowing to European markets from Russia. The war also disrupted global food markets, as both Russia and Ukraine are major exporters of cereal crops. As a result of these factors, inflation surged across Europe and in other parts of the world, but typically declined in 2023, and approached more usual levels by 2024.

Inflation Rate in the United States decreased to 2.80 percent in February from 3 percent in January of 2025. This dataset provides - United States Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The inflation rate in the United States declined significantly between June 2022 and January 2025, despite rising inflationary pressures towards the end of 2024. The peak inflation rate was recorded in June 2022, at 9.1 percent. In August 2023, the Federal Reserve's interest rate hit its highest level during the observed period, at 5.33 percent, and remained unchanged until September 2024, when the Federal Reserve implemented its first rate cut since September 2021. By January 2025, the rate dropped to 4.33 percent, signalling a shift in monetary policy. What is the Federal Reserve interest rate? The Federal Reserve interest rate, or the federal funds rate, is the rate at which banks and credit unions lend to and borrow from each other. It is one of the Federal Reserve's key tools for maintaining strong employment rates, stable prices, and reasonable interest rates. The rate is determined by the Federal Reserve and adjusted eight times a year, though it can be changed through emergency meetings during times of crisis. The Fed doesn't directly control the interest rate but sets a target rate. It then uses open market operations to influence rates toward this target. Ways of measuring inflation Inflation is typically measured using several methods, with the most common being the Consumer Price Index (CPI). The CPI tracks the price of a fixed basket of goods and services over time, providing a measure of the price changes consumers face. At the end of 2023, the CPI in the United States was 158.11 percent, up from 153.12 a year earlier. A more business-focused measure is the producer price index (PPI), which represents the costs of firms.

In 2023, the U.S. Consumer Price Index was 309.42, and is projected to increase to 352.27 by 2029. The base period was 1982-84. The monthly CPI for all urban consumers in the U.S. can be accessed here. After a time of high inflation, the U.S. inflation rateis projected fall to two percent by 2027. United States Consumer Price Index ForecastIt is projected that the CPI will continue to rise year over year, reaching 325.6 in 2027. The Consumer Price Index of all urban consumers in previous years was lower, and has risen every year since 1992, except in 2009, when the CPI went from 215.30 in 2008 to 214.54 in 2009. The monthly unadjusted Consumer Price Index was 296.17 for the month of August in 2022. The U.S. CPI measures changes in the price of consumer goods and services purchased by households and is thought to reflect inflation in the U.S. as well as the health of the economy. The U.S. Bureau of Labor Statistics calculates the CPI and defines it as, "a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services." The BLS records the price of thousands of goods and services month by month. They consider goods and services within eight main categories: food and beverage, housing, apparel, transportation, medical care, recreation, education, and other goods and services. They aggregate the data collected in order to compare how much it would cost a consumer to buy the same market basket of goods and services within one month or one year compared with the previous month or year. Given that the CPI is used to calculate U.S. inflation, the CPI influences the annual adjustments of many financial institutions in the United States, both private and public. Wages, social security payments, and pensions are all affected by the CPI.

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.

Measures of monthly UK inflation data including CPIH, CPI and RPI. These tables complement the consumer price inflation time series dataset.

Inflation Rate in China decreased to -0.70 percent in February from 0.50 percent in January of 2025. This dataset provides - China Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Consumer Price Index gauges the price changes in a basket of goods and services in a defined time period. During August 2024, the product category with the highest Consumer Price Index (CPI) increase compared with the previous month in Argentina was household, water, electricity, gas and other fuels with a seven percent increase. Followed by education with a 6.6 percent increase. Nonetheless, when compared with the previous year, communications registered the highest price increase with over 320 percent year-over-year. The expectation of inflation Despite Argentina’s efforts to reduce inflation, the country ranks in the top three Latin American countries with the highest rate, only with a lower figure than Venezuela and Suriname. The situation is not a recent one, the inflation rate has been reaching double digits every year since 2012, reaching over 50 percent in 2019, making the constant rising prices nothing out of the ordinary for Argentinian families. The expectation of inflation is one of the main causes of inflation with low central bank interest-rates and increases in the money supply, which helps to explain the chronic inflation of the country. Both firms and people expect inflation in their lives, workers demand increasing wages to coop with inflation, while companies increase prices of goods and services because they expect production costs to grow, creating a vicious circle in the economy. Inflation and poverty Inflation negatively affects consumers and savers alike. For the latter, 100 Argentinian pesos in 2020 was worth just under 52 pesos in 2021, after adjusting for the 48.41 percent inflation rate. For the consumers, rising prices of the basic products increase the vulnerability of the population. In January 2023, the value of the basic food basket, which establishes the extreme poverty line, stood at 23,315 pesos, more than ten times higher than during the same month in 2018. Between the first half of 2018 and the first half of 2022, the share of households under the poverty line increased by over 8 percentage points reaching 27.7 percent.

Inflation Rate In the Euro Area decreased to 2.30 percent in February from 2.50 percent in January of 2025. This dataset provides the latest reported value for - Euro Area Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Consumer Confidence in the United States decreased to 57.90 points in March from 64.70 points in February of 2025. This dataset provides the latest reported value for - United States Consumer Sentiment - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Graph and download economic data for Consumer Price Index for All Urban Consumers: Rent of Primary Residence in U.S. City Average (CUUR0000SEHA) from Dec 1914 to Feb 2025 about primary, rent, urban, consumer, CPI, inflation, price index, indexes, price, and USA.

Supermarkets and grocery store outcomes have been a tale of dealing with volatile prices at their purchase and sales points. The continued expansion of Aldi and Amazon has forced the two established industry giants, Woolworths and Coles, to remain price-competitive on both the physical store and online service fronts. To differentiate themselves from low-cost supermarkets, Coles and Woolworths have leant into attracting customers with convenient locations and expanded online shopping capabilities. These supermarket giants also rely on loyalty programs and promotions. Coles and Woolworths have displayed interest in data analytics, strengthening their relationships with analytics firms like Palantir to optimise their marketing and operational processes. The ACCC and Treasury have taken the lead on addressing supplier and customer concerns relating to deceptive discounting practices and supplier contract bargaining exploitation. Supermarket and grocer revenue rose significantly following the COVID-19 outbreak. Household expenditure shifted towards retail industries amid restrictions on many services industries, with this imbalance remaining as high costs limit eating out. A combination of panic buying, along with the suspension of many specials and promotions in supermarkets, boosted grocery turnover at the beginning of the period, spiking revenue for 2019-20. This high benchmark at the start of the period has resulted in an industry correction and an annualised revenue decline of 0.6% to $148.7 billion over the five years to 2024-25. However, stores have largely managed to pass on upstream costs to customers, steadying their profit margins while suppliers and consumers bear the brunt of inflation-driven costs. Revenue is estimated to climb by 0.2% in 2024-25, reflecting the price-driven industry growth more indicative of the overall revenue trend that was drowned out by the pandemic revenue spike and correction. Supermarkets and grocery stores are set to continue performing well with industry revenue slated to climb at an annualised 0.4% over the five years through 2029-30 to $142.8 billion. Population growth and stubborn inflationary pressures, despite rate hikes, are set to keep store prices inching upwards. The results of the Treasury and the ACCC's investigations will shine a light on new regulations and potential penalties in store for large supermarkets. Eventually, when inflationary pressures subside and consumer sentiment returns to a positive level, supermarkets and grocers will be well-positioned to take advantage of consumer appetite for value-added and premium goods. Strong growth in online sales is set to continue.

Graph and download economic data for Personal Consumption Expenditures Excluding Food and Energy (Chain-Type Price Index) (PCEPILFE) from Jan 1959 to Jan 2025 about chained, core, energy, headline figure, PCE, consumption expenditures, consumption, personal, inflation, price index, indexes, price, and USA.

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.

Retail Sales in the United States increased 0.20 percent in February of 2025 over the previous month. This dataset provides - U.S. December Retail Sales Increased More Than Forecast - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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 South Africa remained unchanged at 3.20 percent in February. This dataset provides - South Africa Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Consumer Price Index CPI in India decreased to 192.50 points in February from 193.40 points in January of 2025. This dataset provides - India Consumer Price Index (CPI) - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In December 2024, the inflation rate in Russia stood at around 9.5 percent compared to the same month in the previous year, showing an increase. The rate has been rising since October 2024. The highest rate during the observed period was recorded in April 2022, at 17.8 percent. The term inflation means the devaluation of money caused by a permanent increase in the price level for products (consumer goods, investment goods). The Consumer Price Index (CPI) shows the price development for private expenses and shows the current level of inflation when increasing. Russia's economy, an outlook The Russian economy was expected to grow by 1.6 percent in 2025 despite the Western sanctions over the war in Ukraine that began in February 2022. At the same time, consumer prices were projected to grow by around five percent in 2025 relative to the previous year. In 2024, the inflation rate was estimated at 7.9 percent. Prices in Russia Russia’s economy is highly dependent on and affected by the price of oil. The price of the Urals crude oil stood at approximately 62 U.S. dollars per barrel in December 2024, having demonstrated an increase from the previous month. The highest producer price index (PPI) was recorded in the electricity and gas supply sector, with a price growth rate of over 12 percent in September 2024.