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.

Of the major developed and emerging economies, China had the lowest inflation rate at 0.1 percent in December 2024. On the other end of the spectrum, the inflation rate in Russia stood at nearly 10 percent. The country's inflation rate increased sharply after the country's President, Vladimir Putin, decided to invade Ukraine, declined somewhat in 2023, before increasing slowly again since. The rate of inflation reflects changes in the cost of a specified basket containing a representative selection of goods and services. It is derived from the consumer price index (CPI).

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.

This statistic shows the inflation rate of the main industrialized and emerging countries in 2023. In 2023, the inflation rate in China was estimated to amount to approximately 0.23 percent compared to the previous year.

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.

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.

2022 and 2023 saw inflation rates rise all over the world, especially spurred by effects of the COVID-19 pandemic and Russia's invasion of Ukraine. With its hyperinflation, Argentina was predicted to have the highest inflation rate of the countries included here both in 2023, 2024, and 2025. On the other hand, China's inflation rate was estimated to only reach one percent in 2024.

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.

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.

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.

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

Inflation rates rose all around the world in 2022, so also in the G7 countries, where inflation rates varied from 2.5 percent in Japan to over eight percent in Italy. Inflation rates increased sharply all around the world through 2022, spurred by Russia's invasion of Ukraine in February that year. Especially gas and electricity were hit by price increases following the outbreak of the Russia-Ukraine war. Inflation rates were falling in all G7 economies except for Japan in 2023.

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 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.

Abstract

Food price inflation is an important metric to inform economic policy but traditional sources of consumer prices are often produced with delay during crises and only at an aggregate level. This may poorly reflect the actual price trends in rural or poverty-stricken areas, where large populations reside in fragile situations. This data set includes food price estimates and is intended to help gain insight in price developments beyond what can be formally measured by traditional methods. The estimates are generated using a machine-learning approach that imputes ongoing subnational price surveys, often with accuracy similar to direct measurement of prices. The data set provides new opportunities to investigate local price dynamics in areas where populations are sensitive to localized price shocks and where traditional data are not available.

Geographic coverage notes

The data cover the following areas: Afghanistan, Armenia, Bangladesh, Burkina Faso, Burundi, Cameroon, Central African Republic, Chad, Congo, Dem. Rep., Congo, Rep., Gambia, The, Guinea, Guinea-Bissau, Haiti, Indonesia, Iraq, Kenya, Lao PDR, Lebanon, Liberia, Libya, Malawi, Mali, Mauritania, Mozambique, Myanmar, Niger, Nigeria, Philippines, Senegal, Somalia, South Sudan, Sri Lanka, Sudan, Syrian Arab Republic, Yemen, Rep.

The average for 2024 based on 12 countries was 20.91 percent. The highest value was in Argentina: 139.71 percent and the lowest value was in Peru: 2.44 percent. The indicator is available from 1980 to 2028. Below is a chart for all countries where data are available.

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

Graph and download economic data for Inflation, consumer prices for Developing Countries in Middle East and North Africa (FPCPITOTLZGMNA) from 1970 to 2023 about North Africa, Middle East, consumer prices, consumer, and inflation.

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.

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.