Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.

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.

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.

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.

Inflation Rate in Argentina decreased to 66.90 percent in February from 84.50 percent in January of 2025. This dataset provides the latest reported value for - Argentina Inflation Rate - 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 Inflation, consumer prices for the United States (FPCPITOTLZGUSA) from 1960 to 2023 about consumer, CPI, inflation, price index, indexes, price, and USA.

Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.

The statistic shows the average inflation rate in Canada from 1987 to 2023, with projections up until 2029. The inflation rate is calculated using the price increase of a defined product basket. This product basket contains products and services, on which the average consumer spends money throughout the year. They include expenses for groceries, clothes, rent, power, telecommunications, recreational activities and raw materials (e.g. gas, oil), as well as federal fees and taxes. In 2022, the average inflation rate in Canada was approximately 6.8 percent compared to the previous year. For comparison, inflation in India amounted to 5.56 percent that same year.

Inflation in Canada

In general, the inflation rate in Canada follows a global trend of decreasing inflation rates since 2011, with the lowest slump expected to occur during 2015, but forecasts show an increase over the following few years. Additionally, Canada's inflation rate is in quite good shape compared to the rest of the world. While oil and gas prices have dropped in Canada much like they have around the world, food and housing prices in Canada have been increasing. This has helped to offset some of the impact of dropping oil and gas prices and the effect this has had on Canada´s inflation rate.

The annual consumer price index of food and non-alcoholic beverages in Canada has been steadily increasing over the last decade. The same is true for housing and other price indexes for the country. In general there is some confidence that the inflation rate will not stay this low for long, it is expected to return to a comfortable 2 percent by 2017 if estimates are correct.

The statistic shows the inflation rate in France from 1987 to 2023, with projections up until 2029. The inflation rate is calculated using the price increase of a defined product basket. This product basket contains products and services on which the average consumer spends money throughout the year. They include expenses for groceries, clothes, rent, power, telecommunications, recreational activities, and raw materials (e.g. gas, oil), as well as federal fees and taxes. In 2023, the inflation rate in France was at about 5.66 percent compared to the previous year. The economy of France France is among the top six countries with the largest gross domestic product worldwide, behind the United Kingdom, Germany, Japan, China, and the United States. It is thus one of the leading economies worldwide. Its economy mostly relies on the services sector with almost 80 percent, agriculture making up only 1 percent of the economy and the industry sector the rest. These three sectors are typically seen as the main pillars of a country’s economy. France is also among the leading exporting countries worldwide and the leading importing countries worldwide. Both France’s exports and imports have increased over the last few years. Its trade balance (a country’s exports minus its imports) has been decreasing significantly over the last decade, which means the value of France’s exports was considerably lower than the value of its imports. France’s main exports include wine, meat, and other food products. Its main imports are manufactured goods, among other products. As for the national finances, the national debt of France has been rising steadily and it is thus counted among the countries with the highest public debt, albeit lower in the ranking. Nevertheless, the standard of living in France is quite high, its life expectancy is among the highest in the world, and the employment rate has been steady, or even rising slightly, since 2009.

Inflation in Argentina was 54 percent in 2019, before falling to 42 percent in 2020. Despite Argentina's fluctuating economic instability over the twentieth century, the largest factor in its current economic status is the legacy of poor fiscal discipline left by the economic depression from 1998 to 2002. Although data is not available from 2014 to 2016, Argentina's inflation rate has been among the highest in the world for the past five years.

What causes inflation?

Inflation is a rise in price levels for all goods. Major causes of inflation include an increase in money supply, low central bank interest rates, and expectation of inflation. In a country such as Argentina, the expectation can be one of the biggest obstacles. People expect inflation to be high and demand increasing wages, and firms continue raising prices because they expect the costs of inputs to increase. Banks follow suit, charging high interest rates on fixed deposits.

Effects of inflation

Inflation negatively affects savers. 100 Argentinian pesos in 2018 was worth just under 75 pesos in 2019, after adjusting for the 34 percent inflation rate. Similarly, frequently changing prices has its own inherent cost, called “menu cost” after the price of printing new menus. Inflation will also have a positive effect on national debt when that debt is denominated in Argentinian pesos, because the pesos will be cheaper when the loan matures. However, the majority of Argentina’s debts are in foreign currency, which means that inflation will make these debts larger in peso terms.

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.

Inflation Rate in Canada increased to 2.60 percent in February from 1.90 percent in January of 2025. This dataset provides - Canada Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Hungary Core Inflation: Same Mth PY=100: sa data was reported at 106.230 Same Mth PY=100 in Feb 2025. This records an increase from the previous number of 105.776 Same Mth PY=100 for Jan 2025. Hungary Core Inflation: Same Mth PY=100: sa data is updated monthly, averaging 103.958 Same Mth PY=100 from Jan 1996 (Median) to Feb 2025, with 350 observations. The data reached an all-time high of 126.260 Same Mth PY=100 in Jan 1996 and a record low of 100.361 Same Mth PY=100 in Apr 2006. Hungary Core Inflation: Same Mth PY=100: sa data remains active status in CEIC and is reported by Hungarian Central Statistical Office. The data is categorized under Global Database’s Hungary – Table HU.I013: Core Inflation: Same Month Previous Year=100.

The statistic shows the inflation rate in India from 1987 to 2023, with projections up until 2029. The inflation rate is calculated using the price increase of a defined product basket. This product basket contains products and services, on which the average consumer spends money throughout the year. They include expenses for groceries, clothes, rent, power, telecommunications, recreational activities and raw materials (e.g. gas, oil), as well as federal fees and taxes. In 2023, the inflation rate in India was around 5.36 percent compared to the previous year. See figures on India's economic growth for additional information. India's inflation rate and economy Inflation is generally defined as the increase of prices of goods and services over a certain period of time, as opposed to deflation, which describes a decrease of these prices. Inflation is a significant economic indicator for a country. The inflation rate is the rate at which the general rise in the level of prices, goods and services in an economy occurs and how it affects the cost of living of those living in a particular country. It influences the interest rates paid on savings and mortgage rates but also has a bearing on levels of state pensions and benefits received. A 4 percent increase in the rate of inflation in 2011 for example would mean an individual would need to spend 4 percent more on the goods he was purchasing than he would have done in 2010. India’s inflation rate has been on the rise over the last decade. However, it has been decreasing slightly since 2010. India’s economy, however, has been doing quite well, with its GDP increasing steadily for years, and its national debt decreasing. The budget balance in relation to GDP is not looking too good, with the state deficit amounting to more than 9 percent of GDP.

Historical dataset of nominal and real (inflation-adjusted) gold prices per ounce back to 1915. The series is deflated using the headline Consumer Price Index (CPI) with the most recent month as the base. The current month is updated on an hourly basis with today's latest value.

Historical dataset of real (inflation-adjusted) silver prices per ounce back to 1915. The series is deflated using the headline Consumer Price Index (CPI) with the most recent month as the base. The current month is updated on an hourly basis with today's latest value.

In 2023, the usual median hourly rate of a worker's wage in the United States was 19.24 U.S. dollars, a decrease from the previous year. Dollar value is based on 2023 U.S. dollars. In 1979, the median hourly earnings in the U.S. was 17.48 dollars.

This dataset contains China Consumer Price Index by Category (The same month last year=100).

Data from National Bureau of Statistics China. Follow datasource.kapsarc.org for timely data to advance energy economics research.

Notes:

1.According to the regulations of the statistical system, China's CPI rotates at a base period every five years. After each base period rotation, the survey classification catalogue, representative specifications and survey outlets are adjusted, and the classification weights are also changed to reflect the latest changes in the residents' consumption structure.2.The CPI compiled and released from January 2016 to December 2020 was based on 2015. Compared with the previous base periods , the eight categories of this base period have significant changes. Among them, "Food", "Tobacco and Alcohol" are merged into "Food, Tobacco and Alcohol", "Health Care and Personal Articles" is split into "Household Articles and Services", "Health Care" and "Miscellaneous Goods and Services", "Recreation, Education, Cultural Articles" is split into "Education, Culture and Recreation" and "Miscellaneous Goods and Services", "Household Facilities, Articles and Services" is split into "Articles for Daily Use and Services" and "Miscellaneous Goods and Services". In addition, the index connotation of "Food" has changed. The "Food" in the previous base periods is a broad category, including grain, meat and poultry, fresh vegetables, fresh fruits, aquatic products, tea and beverages, and dining out; this base period "Food" is the medium category under the "Food, Tobacco and Alcohol" category, which only includes grain, livestock meat, poultry meat, fresh vegetables, fresh fruits, aquatic products, etc., and no longer includes "tea and beverages" and "dining out" .3.From January 2021, the CPI based on 2020 is compiled and released. This new base period is still divided into eight categories: "Food, Tobacco and Alcohol", "Clothing", "Residence", "Household Articles and Services"," Transportation and Communication", "Education, Culture and Recreation", "Health Care", "Miscellaneous Goods and Services", and the basic category has increased to 268.

In 2023, Poland had an inflation rate of 11.43 percent compared to the previous year. Inflation is the rate at which the average price level of selected goods and services in an economy increases over a period of time, and therefore indicates a loss in purchasing power of the local currency. Poland’s economy in the fast lane Poland’s low inflation rate encourages fiscal responsibility on the part of the consumers and coupled with a strong growth in gross domestic product (GDP), the country’s economy is one of the fastest growing in the EU. Over 56 percent of Poland’s GDP comes from its services sector, which had an increase in its business confidence index over the last few years - another indicator of an economy on the rise. Poland and Germany in the EU Poland’s biggest import and export partner is its neighbor, Germany. Both countries are influential members of the European Union, a political and economic institution with about 16 percent of the worldwide GDP. They are both among the ten most populous countries of the EU, together claiming over a 100 million of the 512 million inhabitants in the EU.

Hungary Core Inflation: Same Mth PY=100: excl Indirect Taxes (IT) data was reported at 102.521 Same Mth PY=100 in Oct 2018. This records an increase from the previous number of 102.348 Same Mth PY=100 for Sep 2018. Hungary Core Inflation: Same Mth PY=100: excl Indirect Taxes (IT) data is updated monthly, averaging 102.256 Same Mth PY=100 from Jan 2004 (Median) to Oct 2018, with 178 observations. The data reached an all-time high of 105.647 Same Mth PY=100 in Jul 2008 and a record low of 100.573 Same Mth PY=100 in Jul 2010. Hungary Core Inflation: Same Mth PY=100: excl Indirect Taxes (IT) data remains active status in CEIC and is reported by National Bank of Hungary. The data is categorized under Global Database’s Hungary – Table HU.I012: Core Inflation: Same Month Previous Year=100.