U.S. inflation rate for 2023 was 4.13%, a 3.88% decline from 2022.

<ul style='margin-top:20px;'>

<li>U.S. inflation rate for 2022 was <strong>8.00%</strong>, a <strong>3.3% increase</strong> from 2021.</li>
<li>U.S. inflation rate for 2021 was <strong>4.70%</strong>, a <strong>3.46% increase</strong> from 2020.</li>
<li>U.S. inflation rate for 2020 was <strong>1.23%</strong>, a <strong>0.58% decline</strong> from 2019.</li>
</ul>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.

In 2023 and through 2024, the world saw inflation rates increase amid, among other things, post-COVID-19 effects and the Russia-Ukraine war. Argentina and Turkey were both plagued by hyperinflation, with over *** and ** percent in 2024, respectively. Except for these, Russia had the highest inflation rate, at nearly ***** percent. On the other hand, China had the lowest rate of the countries included here, at *** percent. Argentinian inflation crisis During the *****, Argentina was struck by extreme levels of inflation, which severely impacted the livelihoods of Argentinians. Specifically, the costs of goods have presented numerous challenges to Argentinian consumers. In Argentina, a basic food basket that costs around ****** Argentinian pesos cost over 100,000 by February 2024. Similarly, a basic consumer goods basket that cost around ****** Argentinian pesos in February 2023 rose to over ******* by February 2024. While these rising costs have been challenging for consumers, Argentina’s inflation rate is expected to decrease beginning in 2024 and is estimated to reach ***% by 2029.

British recession Besides the outliers of Argentina and Turkey, the United Kingdom had a comparatively high CPI rate. As of 2024, the British economy has entered a recession, the only G7 country to do so. Just before the general election held in July 2024, British voters indicated that health, mostly the lack of financial support and staff shortages, as well as the economy was the most important issue to them.

The UK inflation rate was 3.4 percent in May 2025, down from 3.5 percent in the previous month, and the fastest rate of inflation since February 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 Germany decreased to 2 percent in June from 2.10 percent in May of 2025. This dataset provides the latest reported value for - Germany 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 Indonesia increased to 1.87 percent in June from 1.60 percent in May of 2025. This dataset provides - Indonesia Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

India inflation rate for 2024 was 4.95%, a 0.7% decline from 2023.

<ul style='margin-top:20px;'>

<li>India inflation rate for 2023 was <strong>5.65%</strong>, a <strong>1.05% decline</strong> from 2022.</li>
<li>India inflation rate for 2022 was <strong>6.70%</strong>, a <strong>1.57% increase</strong> from 2021.</li>
<li>India inflation rate for 2021 was <strong>5.13%</strong>, a <strong>1.49% decline</strong> from 2020.</li>
</ul>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.

Historical chart and dataset showing World inflation rate by year from 1981 to 2023.

Graph and download economic data for Inflation, consumer prices for the United States (FPCPITOTLZGUSA) from 1960 to 2024 about consumer, CPI, inflation, price index, indexes, price, and USA.

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.

Inflation Rate in India decreased to 2.82 percent in May from 3.16 percent in April of 2025. This dataset provides - India Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Inflation Rate in Vietnam increased to 3.24 percent in May from 3.12 percent in April of 2025. This dataset provides the latest reported value for - Vietnam 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 Pakistan decreased to 3.20 percent in June from 3.50 percent in May of 2025. This dataset provides the latest reported value for - Pakistan 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 Hong Kong decreased to 1.90 percent in May from 2 percent in April of 2025. This dataset provides the latest reported value for - Hong Kong Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Historical chart and dataset showing Japan inflation rate by year from 1960 to 2024.

Core Inflation Rate MoM in Vietnam increased to 0.33 percent in May from 0.21 percent in April of 2025. This dataset includes a chart with historical data for Vietnam Core Inflation Rate MoM.

Pakistan inflation rate for 2024 was 12.63%, a 18.14% decline from 2023.

<ul style='margin-top:20px;'>

<li>Pakistan inflation rate for 2023 was <strong>30.77%</strong>, a <strong>10.89% increase</strong> from 2022.</li>
<li>Pakistan inflation rate for 2022 was <strong>19.87%</strong>, a <strong>10.38% increase</strong> from 2021.</li>
<li>Pakistan inflation rate for 2021 was <strong>9.50%</strong>, a <strong>0.24% decline</strong> from 2020.</li>
</ul>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.

Consumer prices in the region of the Commonwealth of Independent States (CIS), Georgia, and Ukraine were estimated to have increased by 8.4 percent on average in 2023 compared to the previous year. That was slightly lower than the inflation rate recorded across the region in 2015, when it exceeded 15 percent. The forecast suggested that consumer prices in the CIS and Georgia (excluding Ukraine) would grow by around five percent in 2024. Ukraine and Turkmenistan were expected to have the highest inflation rates among the CIS countries in that year.

Italy inflation rate for 2024 was 0.98%, a 4.64% decline from 2023.

<ul style='margin-top:20px;'>

<li>Italy inflation rate for 2023 was <strong>5.62%</strong>, a <strong>2.58% decline</strong> from 2022.</li>
<li>Italy inflation rate for 2022 was <strong>8.20%</strong>, a <strong>6.33% increase</strong> from 2021.</li>
<li>Italy inflation rate for 2021 was <strong>1.87%</strong>, a <strong>2.01% increase</strong> from 2020.</li>
</ul>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 core inflation rate for the UK was 3.8 percent in April 2025, up from 3.4 percent in the previous month. Core inflation measures inflation without food and energy prices, which can be far more volatile than inflation for other goods and services.

In April 2025, the inflation rate for food in Estonia was at 7.4 percent. This is a year-on-year increase compared to the same month of the previous year. Food Inflation is reported by Statistics Estonia.