Real interest rates describe the growth in the real value of the interest on a loan or deposit, adjusted for inflation. Nominal interest rates on the other hand show us the raw interest rate, which is unadjusted for inflation. If the inflation rate in a certain country were zero percent, the real and nominal interest rates would be the same number. As inflation reduces the real value of a loan, however, a positive inflation rate will mean that the nominal interest rate is more likely to be greater than the real interest rate. We can see this in the recent inflationary episode which has taken place in the wake of the Coronavirus pandemic, with nominal interest rates rising over the course of 2022, but still lagging far behind the rate of inflation, meaning these rate rises register as smaller increases in the real interest 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.

Inflation Rate in European Union decreased to 2.20 percent in May from 2.40 percent in April of 2025. This dataset provides the latest reported value for - European Union Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The inflation rate in the United States is expected to decrease to 2.1 percent by 2029. 2022 saw a year of exceptionally high inflation, reaching eight percent for the year. The data represents U.S. city averages. The base period was 1982-84. In economics, the inflation rate is a measurement of inflation, the rate of increase of a price index (in this case: consumer price index). It is the percentage rate of change in prices level over time. The rate of decrease in the purchasing power of money is approximately equal. According to the forecast, prices will increase by 2.9 percent in 2024. The annual inflation rate for previous years can be found here and the consumer price index for all urban consumers here. The monthly inflation rate for the United States can also be accessed here. Inflation in the U.S.Inflation is a term used to describe a general rise in the price of goods and services in an economy over a given period of time. Inflation in the United States is calculated using the consumer price index (CPI). The consumer price index is a measure of change in the price level of a preselected market basket of consumer goods and services purchased by households. This forecast of U.S. inflation was prepared by the International Monetary Fund. They project that inflation will stay higher than average throughout 2023, followed by a decrease to around roughly two percent annual rise in the general level of prices until 2028. Considering the annual inflation rate in the United States in 2021, a two percent inflation rate is a very moderate projection. The 2022 spike in inflation in the United States and worldwide is due to a variety of factors that have put constraints on various aspects of the economy. These factors include COVID-19 pandemic spending and supply-chain constraints, disruptions due to the war in Ukraine, and pandemic related changes in the labor force. Although the moderate inflation of prices between two and three percent is considered normal in a modern economy, countries’ central banks try to prevent severe inflation and deflation to keep the growth of prices to a minimum. Severe inflation is considered dangerous to a country’s economy because it can rapidly diminish the population’s purchasing power and thus damage the GDP .

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.

Inflation Rate in Norway remained unchanged at 3 percent in June. This dataset provides - Norway Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

During the period beginning roughly in the mid-1980s until the Global Financial Crisis (2007-2008), the U.S. economy experienced a time of relative economic calm, with low inflation and consistent GDP growth. Compared with the turbulent economic era which had preceded it in the 1970s and the early 1980s, the lack of extreme fluctuations in the business cycle led some commentators to suggest that macroeconomic issues such as high inflation, long-term unemployment and financial crises were a thing of the past. Indeed, the President of the American Economic Association, Professor Robert Lucas, famously proclaimed in 2003 that "central problem of depression prevention has been solved, for all practical purposes". Ben Bernanke, the future chairman of the Federal Reserve during the Global Financial Crisis (GFC) and 2022 Nobel Prize in Economics recipient, coined the term 'the Great Moderation' to describe this era of newfound economic confidence. The era came to an abrupt end with the outbreak of the GFC in the Summer of 2007, as the U.S. financial system began to crash due to a downturn in the real estate market.

Causes of the Great Moderation, and its downfall

A number of factors have been cited as contributing to the Great Moderation including central bank monetary policies, the shift from manufacturing to services in the economy, improvements in information technology and management practices, as well as reduced energy prices. The period coincided with the term of Fed chairman Alan Greenspan (1987-2006), famous for the 'Greenspan put', a policy which meant that the Fed would proactively address downturns in the stock market using its monetary policy tools. These economic factors came to prominence at the same time as the end of the Cold War (1947-1991), with the U.S. attaining a new level of hegemony in global politics, as its main geopolitical rival, the Soviet Union, no longer existed. During the Great Moderation, the U.S. experienced a recession twice, between July 1990 and March 1991, and again from March 2001 tom November 2001, however, these relatively short recessions did not knock the U.S. off its growth path. The build up of household and corporate debt over the early 2000s eventually led to the Global Financial Crisis, as the bursting of the U.S. housing bubble in 2007 reverberated across the financial system, with a subsequent credit freeze and mass defaults.

Iran’s inflation rate rose sharply to 34.79 percent in 2019 and was projected to rise another 14 percentage points before slowly starting to decline. Given the recent sanctions by the United States regarding the nuclear deal, this number has both political and economic implications. Political implications President Hassan Rouhani won the 2017 election based on economic promises, many stemming from the Joint Comprehensive Plan of Action (JCPOA), commonly known as the Iran Nuclear Deal. Lifting these sanctions opened the Iranian economy to many opportunities, including the chance to benefit from increased oil exports. The JCPOA was an integral part of the Rouhani campaign, so any economic hardship that is linked to the deal will likely be blamed on the president. Economic implications High inflation leads to high interest rates, which leads to less borrowing. Less borrowing means less investment, which slows economic growth. This slower growth often leads to higher inflation, which is what economists call an inflationary spiral. As such, Iran will have difficulty achieving substantial GDP growth until inflation returns to manageable rates.

Graph and download economic data for 5-Year Breakeven Inflation Rate (T5YIE) from 2003-01-02 to 2025-07-11 about spread, interest rate, interest, 5-year, inflation, rate, and USA.

We report average expected inflation rates over the next one through 30 years. Our estimates of expected inflation rates are calculated using a Federal Reserve Bank of Cleveland model that combines financial data and survey-based measures. Released monthly.

Historical chart and dataset showing North America inflation rate by year from 1960 to 2023.

The Federal Reserve Bank of Cleveland provides daily “nowcasts” of inflation for two popular price indexes, the price index for personal consumption expenditures (PCE) and the Consumer Price Index (CPI). These nowcasts give a sense of where inflation is today. Released each business day.

In November 2024, the inflation rate in Turkey corresponded to **** percent. The monthly inflation rate in Turkey reached ***** 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 ***** 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 **** 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.

In 2024, the average inflation rate in Mexico stood at approximately 4.72 percent. Between 1980 and 2024, the figure dropped by around 21.75 percentage points, though the decline followed an uneven course rather than a steady trajectory. The inflation is forecast to decline by about 1.72 percentage points from 2024 to 2030, fluctuating as it trends downward.This indicator measures inflation based upon the year-on-year change in the average consumer price index, expressed in percent. The latter expresses a country's average level of prices based on a typical basket of consumer goods and services.

In May 2025, the year-on-year change in consumer prices was 0.46 percent in Finland. From onwards December 2022, the CPI is on a steady decline. Inflation or currency devaluation (drop in the real value of money), is characterized by a rise in the prices of finished products (consumer goods, capital goods). Vice versa, deflation or currency appreciation refers to an increase in the real value of money, allowing the buyer to purchase more goods and services with the same amount of money. Moreover, the consumer price index tracks price trends of private consumption expenditure.

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.

Interactive chart showing the annual rate of inflation in the United States as measured by the Consumer Price Index back to 1914.

In May 2025, the inflation rate in Japan stood at *** percent. The term inflation means the devaluation of money caused by a permanent increase of the price level for goods and services. The Consumer Price Index (CPI) measures the price development for private expenses and shows the current level of inflation when it increases. Rising consumer prices since 2022 Since the economic downturn in the 1990s, consumer prices in Japan have remained stagnant. Many Japanese consumers have never experienced a significant rise in cost of living, as the country had been struggling with deflationary pressures for over three decades. In the last years, this has changed drastically. Consumers have been confronted with rising prices since 2022, driven by global tensions and the aftermath of the COVID-19 pandemic. While Japan’s CPI recorded a *** percent growth in 2024, real household consumption expenditure declined. Consumer inflation in 2024 Annual inflation decreased from *** percent in 2023, the highest level recorded since 1991. A look at the price growth of major categories in the CPI shows that prices for ********************** saw the largest increases in 2024, followed by **** and ******************************. Fresh food prices, which rose by ***** percent, were at the core of the food price growth. ************, ****************, and ******* such as rice, bread, and noodles, were among the major contributors to Japan’s inflation. Rice prices jumped significantly in 2024. The staple food continued to see drastic price hikes in 2025.

Poland's inflation rate has shown significant fluctuations recently, with the country experiencing both periods of high inflation and deflation. In May 2025, consumer prices increased by *** percent compared to the previous year, marking a notable decline from the peak of **** percent recorded in February 2023. Food and beverage prices drive inflation Food and non-alcoholic beverages have contributed to Poland's inflation, with prices in this category reaching a staggering **** percent increase in March 2023. Although the rate has since decreased, it remained at *** percent in September 2024, indicating ongoing pressure on consumer budgets. Similarly, alcoholic beverages experienced significant price hikes, peaking at **** percent in March 2023 before settling at *** percent in February 2024. These persistent increases in essential goods have substantially impacted the overall inflation rate. Varied impact across sectors While food and beverages have seen consistent price increases, other sectors have experienced more volatile trends. Clothing and footwear, for instance, went through a period of deflation from January 2019 to April 2021, with prices declining by as much as **** percent in May 2020. However, this sector also saw a sharp reversal, with inflation peaking at *** percent in March 2023. Liquid fuel prices demonstrated even more dramatic swings, soaring to an astonishing ***** percent increase in June 2022. As of January 2025, housing-related costs, including utilities, have emerged as the leading inflationary force, rising by nearly **** percent year-over-year and significantly influencing the overall inflation rate.

The statistic depicts the average inflation rate in Mexico from 1987 to 2024, with projections up until 2030. The inflation rate measures price changes for a fixed basket of goods which includes a representative selection of goods and services. In 2024, Mexico's average inflation rate was around 4.72 percent compared to the previous year. Mexico’s economy Mexico’s gross domestic product (GDP) has been increasing slightly over the last decade, however, its national debt still amounts to almost half of its GDP. The majority of Mexico’s GDP is yielded by the services sector, as a look at the distribution of gross domestic product in Mexico by sector shows. More than 60 percent of GDP are generated in this sector; the majority of the Mexican workforce is employed in services. One important contributor to Mexico’s GDP is tourism. The total unemployment rate in Mexico took a turn for the worse during the recession of 2008 and is still to bounce back to previous levels. Mexico’s main export and import partner is the United States which accounts for approximately half of the value of both. Thus, the trade balance of goods in Mexico, showing the value of exports minus the value of imports, is heavily dependant on the United States. For the past decade, Mexico’s trade balance has run at a deficit of more than 10 billion US dollars. The trade balance of services sector in Mexico has also been in the red with a deficit of more than 6 percent since the recession and higher than 9 percent since 2011. Mexico is also one of the largest drug exporting countries worldwide. Specific trade figures are not available, however, Mexico is among the top countries for opium cultivation based on acreage, and thousands of illegal poppy fields, processed into opium, have been destroyed in Mexico year after year.