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.

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.

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).

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

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.

In 2023, no Latin American or Caribbean country registered deflation in their average consumer prices. Costa Rica had the lowest change compared to the previous year with 0.52 percent. In contrast, the average inflation rate in Venezuela amounted to about 337.46 percent.

Latin America among the highest inflation rates in the world In 2023, the average inflation rate of the region was around 14.41 percent. Which is significantly higher than the global average of 6.78 percent. Some of that is explained by countries such as Venezuela, Argentina, and Suriname ranking in the top then of countries with the highest inflation rate in the world.

Chronic inflation in Latin America Chronic inflation is often defined as persistent high inflation throughout a long time. Some of the common examples of this problem are Venezuela and Argentina, both countries had episodes of hyperinflation, with price increases considerably over 50 percent per month in both cases. The last few years, the global crisis and economic sanctions, attenuated the situation with Argentina reaching once again three-digit inflation and Venezuela exceeding 63,000 percent inflation in 2019.

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 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.

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

Inflation Rate in Argentina decreased to 43.50 percent in May from 47.30 percent in April of 2025. This dataset provides the latest reported value for - Argentina Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The statistic lists the 20 countries with the lowest inflation rate in 2023. In 2023, China ranked 5th with a inflation rate of about 0.23 percent compared to the previous year. Inflation rates and the financial crisis Due to relatively stagnant worker wages as well as a hesitation from banks to so easily distribute loans to the ordinary citizen, inflation has remained considerably low. Low inflation rates are most apparent in European countries, which stems from the on-going Eurozone debt crisis as well as from the global financial crisis of 2008. With continuous economical struggles and a currently sensitive economic situation throughout Europe, precautions were taken in order to maintain stability and to prevent consequential breakdowns, such as those in Greece and Spain. Additionally, the average European consumer had to endure financial setbacks, causing doubt in the general future of the entire European Union, as evident in the consumer confidence statistics, which in turn raised the question, if several handpicked countries should step out of the EU in order to improve its economic position. Greece, while perhaps experiencing the largest economic drought out of all European countries, improved on its inflation rate. The situation within the country is slowly improving itself as a result of a recent bailout as well as economic stimulus packages issued by the European Union. Furthermore, the Greek government managed its revenues and expenses more competently in comparison to the prime of the global and the Greek financial crisis, with annual expenses only slightly exceeding yearly revenues.

The average for 2025 based on 184 countries was 7.08 percent. The highest value was in Venezuela: 254.35 percent and the lowest value was in Switzerland: 0.24 percent. The indicator is available from 1980 to 2030. Below is a chart for all countries where data are available.

Inflation Rate in Ghana decreased to 18.40 percent in May from 21.20 percent in April of 2025. This dataset provides - Ghana Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The inflation rate in the European Union was 2.4 percent in April 2025, a significant decline from the high-point reached in October 2022 of 11.5 percent, the highest rate of inflation recorded in the provided time period. Before 2021, the inflation rate in the EU peaked at 4.4 percent in July 2008 and was lowest in January 2015, when prices were shrinking by 0.5 percent. Currently, Romania has the highest inflation rate among EU member states at 4.9 percent, while France has the lowest inflation rate, at 0.9 percent.

As of April 2025, the inflation rate in the European Union was 2.4 percent, with prices rising fastest in Romania, which had an inflation rate of 4.9 percent. By contrast, both France and Cyprus saw low inflation rates during the same period, with France 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.

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 November 2024, the inflation rate in Turkey corresponded to 47.1 percent. The monthly inflation rate in Turkey reached 85.51 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 38.21 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 48.6 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.

The average for 2025 based on 42 countries was 5.95 percent. The highest value was in Iran: 45 percent and the lowest value was in China: 0.41 percent. The indicator is available from 1980 to 2030. Below is a chart for all countries where data are available.

Inflation Rate in Canada remained unchanged at 1.70 percent in May. This dataset provides - Canada Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.