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.

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 .

Pakistan inflation rate for 2023 was 30.77%, a 10.89% increase from 2022.

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

<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>
<li>Pakistan inflation rate for 2020 was <strong>9.74%</strong>, a <strong>0.84% 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.

The Consumer Price Index in the United States increased 0.20 percent in April of 2025 over the previous month. This dataset provides - United States Inflation Rate MoM - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Inflation Rate in the United States decreased to 2.30 percent in April from 2.40 percent in March of 2025. This dataset provides - United States Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Inflation Rate in Japan remained unchanged at 3.60 percent in April. 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.

In March 2025, inflation amounted to 2.4 percent, while wages grew by 4.3 percent. The inflation rate has not exceeded the rate of wage growth since January 2023. Inflation in 2022 The high rates of inflation in 2022 meant that the real terms value of American wages took a hit. Many Americans report feelings of concern over the economy and a worsening of their financial situation. The inflation situation in the United States is one that was experienced globally in 2022, mainly due to COVID-19 related supply chain constraints and disruption due to the Russian invasion of Ukraine. The monthly inflation rate for the U.S. reached a 40-year high in June 2022 at 9.1 percent, and annual inflation for 2022 reached eight percent. Without appropriate wage increases, Americans will continue to see a decline in their purchasing power. Wages in the U.S. Despite the level of wage growth reaching 6.7 percent in the summer of 2022, it has not been enough to curb the impact of even higher inflation rates. The federally mandated minimum wage in the United States has not increased since 2009, meaning that individuals working minimum wage jobs have taken a real terms pay cut for the last twelve years. There are discrepancies between states - the minimum wage in California can be as high as 15.50 U.S. dollars per hour, while a business in Oklahoma may be as low as two U.S. dollars per hour. However, even the higher wage rates in states like California and Washington may be lacking - one analysis found that if minimum wage had kept up with productivity, the minimum hourly wage in the U.S. should have been 22.88 dollars per hour in 2021. Additionally, the impact of decreased purchasing power due to inflation will impact different parts of society in different ways with stark contrast in average wages due to both gender and race.

The latest inflation rate, i.e. the percent change in the CPI from a year ago to now, in Puerto Rico was 0.96 percent. That number was released in . It shows an increase from the inflation rate in the previous month when it stood at 0.95 percent. Compared to a year ago, we see a decrease from...

Inflation in the table below is defined as the percent change in the CPI from the same month last year. The first column of numbers shows the latest value available from the national authorities and the next two columns show the levels of annual inflation three months and one year prior to the latest release. The data are updated daily. Over long stretches of time - typically years - inflation is a byproduct of the expansion of money supply. In the short run the inflation rate fluctuates with economic growth as recessions slow down the increase in prices and rapid output growth accelerates it. Shits in exchange rates, commodity prices, and natural phenomena like droughts also have an impact. Over time, however, these factors have only a transitory effect and the only variable that matters is money supply growth. The control of inflation is delegated to central banks that typically try to balance between relatively low inflation and low unemployment. For more, you can read our articles about optimal inflation and the causes of inflation in the short run and the long run.

Inflation Rate in Norway decreased to 2.50 percent in April from 2.60 percent in March of 2025. This dataset provides - Norway Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Core consumer prices in the United States increased 2.80 percent in April of 2025 over the same month in the previous year. This dataset provides - United States Core Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Inflation Rate in India decreased to 3.16 percent in April from 3.34 percent in March of 2025. This dataset provides - India Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Japan inflation rate for 2023 was 3.27%, a 0.77% increase from 2022.

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

<li>Japan inflation rate for 2022 was <strong>2.50%</strong>, a <strong>2.73% increase</strong> from 2021.</li>
<li>Japan inflation rate for 2021 was <strong>-0.23%</strong>, a <strong>0.21% decline</strong> from 2020.</li>
<li>Japan inflation rate for 2020 was <strong>-0.03%</strong>, a <strong>0.49% 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.

This data package includes the underlying data, programs, documentation, and background notes for Another reason to raise the Fed’s inflation target: An employment and output boom, PIIE Policy Brief 21-19.

If you use the data, please cite as: Reifschneider, David, and David Wilcox, Another reason to raise the Fed’s inflation target: An employment and output boom, PIIE Policy Brief 21-19, August 2021, Peterson Institute for International Economics.

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 Expectations in the United States decreased to 3.20 percent in May from 3.60 percent in April of 2025. This dataset provides - United States Consumer Inflation Expectations- actual values, historical data, forecast, chart, statistics, economic calendar and news.

India inflation rate for 2023 was 5.65%, a 1.05% decline from 2022.

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

<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>
<li>India inflation rate for 2020 was <strong>6.62%</strong>, a <strong>2.89% increase</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.

From August 2021, the inflation rate in Sweden increased. Especially 2022 saw an increase in the consumer price index (CPI) compared to the corresponding months one year before. Both the COVID-19 pandemic and the Russian war in Ukraine have driven inflation in the world in recent months. In September 2024, the inflation rate in Sweden reached 1.6 percent.

Russia Inflation Expectation: Next 1-2 Months: Increase Significantly data was reported at 30.764 % in Mar 2025. This records an increase from the previous number of 29.826 % for Feb 2025. Russia Inflation Expectation: Next 1-2 Months: Increase Significantly data is updated monthly, averaging 34.000 % from Jun 2012 (Median) to Mar 2025, with 97 observations. The data reached an all-time high of 60.742 % in Feb 2022 and a record low of 20.000 % in Feb 2018. Russia Inflation Expectation: Next 1-2 Months: Increase Significantly data remains active status in CEIC and is reported by Russian Public Opinion Research Center. The data is categorized under Russia Premium Database’s Household Survey – Table RU.HE007: Inflation Expectations and Perception: Russian Public Opinion Research Center (VCIOM). [COVID-19-IMPACT]

This data package includes the underlying data to replicate the charts, tables, and calculations presented in Why did inflation rise and fall so rapidly? Lessons from the Korean War, PIIE Working Paper 25-1.

If you use the data, please cite as:

Gagnon, Joseph E., and Asher Rose. 2025. Why did inflation rise and fall so rapidly? Lessons from the Korean War. PIIE Working Paper 25-1. Washington: Peterson Institute for International Economics.