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.

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.

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.

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

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.

Of the major developed and emerging economies, China had the lowest inflation rate at *** percent in December 2024. On the other end of the spectrum, the inflation rate in Russia stood at nearly ** 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).

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.

Uzbekistan was estimated the highest inflation rate in Eurasia in 2024, at approximately 10 percent. It was followed by Kazakhstan, where consumer prices would grow by around 8.6 percent on average compared to the previous year. Ukraine's inflation rate decreased after having peaked in 2022.

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 8 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 in 2024.

Context

Understanding global economic dynamics, specifically the trends in inflation rates, is paramount for policymakers, economists, and researchers. This dataset, covering the years 1980 to 2024, offers a comprehensive perspective on inflation across various countries. The primary focus is on dissecting the data based on country-specific indicators, providing valuable insights into the multifaceted factors influencing economic environments on a global scale.

Content

The dataset comprises crucial columns including country name, indicator type, and annual average inflation rates from 1980 to 2024. This extensive collection of information facilitates detailed analysis and correlation studies, enabling researchers to uncover patterns and trends. By examining the nuanced relationships between country-specific indicators and inflation rates, valuable conclusions can be drawn about the complexities of global economic dynamics over the years. This dataset serves as a valuable resource for anyone seeking to delve into the intricacies of inflation trends and their implications across diverse nations.

Dataset Structure:

This dataset (global_inflation_data.csv) covering from 1980 to 2024 consists of the following columns:

Acknowledgment

The primary dataset was retrieved from the World Bank. I sincerely thank the team for providing the core data used in this dataset.

© Image credit: Freepik

Inflation is characterized by a steady rise in the aggregate level of prices in an economy - put into simpler words, it is the rise in all prices in the economy, rather than just in specific prices for goods or services (such as when there is a shortage in a particular good). The consumer price index tracks price trends of private consumption expenditure, and shows an increase in the index's current level of inflation. In April 2025, the inflation rate in Türkiye (previously known as Turkey) was 37.9 percent compared to the same month of the previous year, making it one of the countries in the world with the highest inflation rate.

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.

Argentina had the highest annual inflation rate of G20 member countries as of April 2024, reaching an annual average of *** percent. The Latin American country has struggled with high inflation over several years. Elsewhere, the inflation rate in Turkey reached almost ** percent, while it was lowest in China at *** percent.

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.

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.

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, ********* was predicted to have the highest inflation rate of the countries included here both in 2023, 2024, and 2025. On the other hand, ******* inflation rate was estimated to only reach *** percent in 2024.

East Asia & Pacific inflation rate for 2023 was 4.25%, a 1.16% decline from 2022.

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

<li>East Asia & Pacific inflation rate for 2022 was <strong>5.41%</strong>, a <strong>2.93% increase</strong> from 2021.</li>
<li>East Asia & Pacific inflation rate for 2021 was <strong>2.48%</strong>, a <strong>1.63% increase</strong> from 2020.</li>
<li>East Asia & Pacific inflation rate for 2020 was <strong>0.85%</strong>, a <strong>0.86% 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.

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.

The average for 2025 based on 20 countries was 18.78 percent. The highest value was in Venezuela: 254.35 percent and the lowest value was in Panama: 0.7 percent. The indicator is available from 1980 to 2030. Below is a chart for all countries where data are available.