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Global Inflation Rate


 Inflation Rate: A Global Comparison

 

Country

2020

2021

2022

2023

2024

Maximum

Minimum

Average

Zimbabwe

557.21

98.546

193.399

667.361

560.981

667.361

98.546

415.4994

Argentina

42.015

48.409

72.431

133.489

249.793

249.793

42.015

109.2274

Sudan

163.258

359.092

138.808

171.471

145.535

359.092

138.808

195.6328

Venezuela

2355.15

1588.51

186.542

337.458

99.981

2355.15

99.981

913.53

Türkiye

12.279

19.596

72.309

53.859

59.52

72.309

12.279

43.5126

South Sudan

23.984

30.229

-3.21

40.195

54.754

54.754

-3.21

29.1904

Sierra Leone

13.447

11.874

27.209

47.716

39.118

47.716

11.874

27.8728

Islamic Republic of Iran

36.43

40.214

45.752

41.5

37.5

45.752

36.43

40.2792

Egypt

5.7

4.5

8.5

24.392

32.547

32.547

4.5

15.1278

Malawi

8.639

9.343

20.839

30.295

27.892

30.295

8.639

19.4016

Nigeria

13.247

16.953

18.847

24.66

26.311

26.311

13.247

20.0036

Ethiopia

20.354

26.794

33.938

30.219

25.572

33.938

20.354

27.3754

Pakistan

10.741

8.901

12.148

29.181

24.757

29.181

8.901

17.1456

Haiti

22.945

15.941

27.576

44.1

23.013

44.1

15.941

26.715

Ghana

9.885

9.976

31.713

37.531

22.271

37.531

9.885

22.2752

Angola

22.277

25.765

21.36

13.639

22.004

25.765

13.639

21.009

Burundi

7.305

8.313

18.888

26.955

21.964

26.955

7.305

16.685

Lao P.D.R.

5.104

3.754

22.959

31.23

21.5

31.23

3.754

16.9094

Suriname

34.89

59.12

52.448

51.582

20.741

59.12

20.741

43.7562

Democratic Republic of the Congo

11.358

8.989

9.266

19.894

17.247

19.894

8.989

13.3508

Yemen

21.673

31.464

29.511

-1.225

16.909

31.464

-1.225

19.6664

The Gambia

5.931

7.37

11.513

16.966

15.123

16.966

5.931

11.3806

Myanmar

5.725

3.642

18.385

27.1

15

27.1

3.642

13.9704

São Tomé and Príncipe

9.82

8.138

18.006

21.184

14.191

21.184

8.138

14.2678

Uzbekistan

12.868

10.849

11.447

9.951

11.579

12.868

9.951

11.3388

Zambia

15.733

22.021

10.993

10.953

11.37

22.021

10.953

14.214

Guinea

10.602

12.597

10.499

7.8

11.034

12.597

7.8

10.5064

Mongolia

3.735

7.359

15.153

10.348

9.747

15.153

3.735

9.2684

Bangladesh

5.648

5.558

6.15

9.016

9.3

9.3

5.558

7.1344

Kazakhstan

6.799

8.002

14.956

14.558

8.671

14.956

6.799

10.5972

Madagascar

4.188

5.819

8.157

9.861

7.789

9.861

4.188

7.1628

Vanuatu

5.346

2.343

6.679

12.041

7.631

12.041

2.343

6.808

Algeria

2.415

7.226

9.267

9.32

7.551

9.32

2.415

7.1558

Tunisia

5.635

5.707

8.308

9.323

7.358

9.323

5.635

7.2662

Jamaica

5.21

5.882

10.347

6.471

7

10.347

5.21

6.982

Russia

3.382

6.694

13.75

5.859

6.87

13.75

3.382

7.311

Kyrgyz Republic

6.323

11.908

13.91

10.797

6.687

13.91

6.323

9.925

Kenya

5.29

6.109

7.648

7.675

6.601

7.675

5.29

6.6646

Ukraine

2.74

9.361

20.183

12.851

6.446

20.183

2.74

10.3162

Colombia

2.525

3.505

10.183

11.729

6.39

11.729

2.525

6.8664

Lesotho

4.978

6.048

8.272

6.343

6.384

8.272

4.978

6.405

Niger

2.898

3.838

4.226

3.701

6.365

6.365

2.898

4.2056

Liberia

16.953

7.816

7.593

10.094

6.344

16.953

6.344

9.76

Nepal

6.15

3.599

6.261

7.815

6.312

7.815

3.599

6.0274

Belarus

5.536

9.453

15.239

5.017

6.307

15.239

5.017

8.3104

Romania

2.646

5.046

13.8

10.397

6.049

13.8

2.646

7.5876

Cameroon

2.451

2.262

6.252

7.191

5.9

7.191

2.262

4.8112

Rwanda

7.733

0.828

13.882

14.029

5.8

14.029

0.828

8.4544

Uruguay

9.754

7.75

9.106

5.868

5.765

9.754

5.765

7.6486

Iceland

2.848

4.458

8.307

8.74

5.609

8.74

2.848

5.9924

Tonga

0.423

1.414

8.52

10.171

5.42

10.171

0.423

5.1896

Poland

3.379

5.124

14.36

11.424

5.014

14.36

3.379

7.8602

Moldova

3.771

5.099

28.567

13.437

5

28.567

3.771

11.1748

Nicaragua

3.682

4.928

10.47

8.442

5

10.47

3.682

6.5044

Turkmenistan

6.1

19.479

11.211

-1.738

4.955

19.479

-1.738

8.0014

Tajikistan

8.58

8.974

6.641

3.652

4.915

8.974

3.652

6.5524

Mauritius

2.52

4.039

10.785

7.045

4.901

10.785

2.52

5.858

Bhutan

3.048

8.211

5.935

4.555

4.898

8.211

3.048

5.3294

South Africa

3.275

4.556

6.869

5.9

4.863

6.869

3.275

5.0926

Namibia

2.209

3.62

6.077

5.88

4.811

6.077

2.209

4.5194

Somalia

4.304

4.62

6.785

6.104

4.8

6.785

4.304

5.3226

Serbia

1.576

4.085

11.982

12.372

4.759

12.372

1.576

6.9548

Nauru

1.886

1.077

3.552

6.203

4.709

6.203

1.077

3.4854

Central African Republic

0.881

4.259

5.579

3.166

4.705

5.579

0.881

3.718

India

6.165

5.506

6.653

5.375

4.563

6.653

4.563

5.6524

Bolivia

0.942

0.736

1.747

2.577

4.484

4.484

0.736

2.0972

Kiribati

2.553

2.054

5.346

9.277

4.469

9.277

2.054

4.7398

Mozambique

3.142

5.688

9.77

6.14

4.439

9.77

3.142

5.8358

Equatorial Guinea

4.766

-0.094

4.869

2.499

4.4

4.869

-0.094

3.288

Honduras

3.468

4.481

9.09

6.663

4.39

9.09

3.468

5.6184

Andorra

0.092

1.677

6.203

5.607

4.266

6.203

0.092

3.569

Marshall Islands

-0.658

2.247

3.234

6.753

4.25

6.753

-0.658

3.1652

Dominican Republic

3.781

8.243

8.812

4.786

4.229

8.812

3.781

5.9702

Papua New Guinea

4.872

4.483

5.253

2.33

4.2

5.253

2.33

4.2276

Montenegro

-0.238

2.399

13.05

8.565

4.164

13.05

-0.238

5.588

Estonia

-0.634

4.487

19.447

9.116

4.159

19.447

-0.634

7.315

Tuvalu

1.859

6.217

11.54

6.205

4.131

11.54

1.859

5.9904

Brazil

3.212

8.302

9.28

4.594

4.113

9.28

3.212

5.9002

Tanzania

3.289

3.69

4.35

4.036

4.038

4.35

3.289

3.8806

Guatemala

3.211

4.263

6.882

6.209

4.025

6.882

3.211

4.918

Botswana

1.89

6.679

12.166

5.144

4.02

12.166

1.89

5.9798

Mexico

3.398

5.693

7.898

5.525

4.02

7.898

3.398

5.3068

Micronesia

0.964

1.772

5.02

6.21

4.018

6.21

0.964

3.5968

Fiji

-2.595

0.156

4.32

2.3

4

4.32

-2.595

1.6362

Iraq

0.574

6.042

4.987

4.416

4

6.042

0.574

4.0038

North Macedonia

1.2

3.231

14.205

9.362

4

14.205

1.2

6.3996

Austria

1.391

2.756

8.614

7.71

3.92

8.614

1.391

4.8782

Senegal

2.529

2.178

9.689

5.947

3.9

9.689

2.178

4.8486

Eswatini

3.872

3.719

4.802

4.949

3.881

4.949

3.719

4.2446

Barbados

0.514

1.485

4.998

5.039

3.857

5.039

0.514

3.1786

Paraguay

1.768

4.788

9.766

4.632

3.837

9.766

1.768

4.9582

Uganda

2.758

2.207

7.192

5.352

3.81

7.192

2.207

4.2638

Côte d’Ivoire

2.415

4.159

5.208

4.389

3.8

5.208

2.415

3.9942

Maldives

-1.594

0.213

2.601

2.616

3.777

3.777

-1.594

1.5226

Croatia

-0.03

2.724

10.67

8.393

3.744

10.67

-0.03

5.1002

Vietnam

3.22

1.837

3.157

3.253

3.74

3.74

1.837

3.0414

Hungary

3.305

5.105

14.62

17.14

3.723

17.14

3.305

8.7786

Slovak Republic

2.016

2.828

12.135

10.962

3.644

12.135

2.016

6.317

Belgium

0.421

3.21

10.325

2.293

3.623

10.325

0.421

3.9744

Republic of Congo

1.373

1.969

3.026

4.5

3.6

4.5

1.373

2.8936

Philippines

2.393

3.927

5.821

5.978

3.583

5.978

2.393

4.3404

Samoa

1.48

-3.01

8.747

11.981

3.563

11.981

-3.01

4.5522

Azerbaijan

2.763

6.664

13.859

8.225

3.546

13.859

2.763

7.0114

Australia

0.912

2.819

6.614

5.595

3.53

6.614

0.912

3.894

Timor-Leste

0.488

3.775

7.005

8.42

3.508

8.42

0.488

4.6392

Albania

1.621

2.043

6.726

4.769

3.495

6.726

1.621

3.7308

Solomon Islands

2.964

-0.108

5.507

4.49

3.495

5.507

-0.108

3.2696

Kosovo

0.218

3.306

11.674

5.223

3.491

11.674

0.218

4.7824

Bulgaria

1.219

2.842

13.019

8.599

3.351

13.019

1.219

5.806

Norway

1.287

3.484

5.764

5.518

3.3

5.764

1.287

3.8706

Chile

3.043

4.524

11.645

7.583

3.18

11.645

3.043

5.995

Kuwait

2.102

3.424

3.981

3.642

3.168

3.981

2.102

3.2634

Armenia

1.226

7.202

8.649

1.965

3.124

8.649

1.226

4.4332

Palau

0.702

-0.481

13.188

12.335

3.101

13.188

-0.481

5.769

New Zealand

1.715

3.941

7.172

5.733

3.094

7.172

1.715

4.331

Chad

5.32

-1.624

6.885

2.682

3.087

6.885

-1.624

3.27

Belize

0.122

3.239

6.274

4.39

3.063

6.274

0.122

3.4176

Bosnia and Herzegovina

-1.052

1.998

14.012

6.098

3.032

14.012

-1.052

4.8176

Benin

3.049

1.7

1.4

2.8

3

3.049

1.4

2.3898

Guinea-Bissau

1.463

3.274

7.917

7.164

3

7.917

1.463

4.5636

Singapore

-0.182

2.305

6.121

4.821

2.979

6.121

-0.182

3.2088

St. Vincent and the Grenadines

-0.606

1.557

5.66

4.571

2.955

5.66

-0.606

2.8274

United States

1.249

4.682

7.992

4.128

2.907

7.992

1.249

4.1916

Libya

1.468

2.88

4.51

3.428

2.863

4.51

1.468

3.0298

Malta

0.794

0.715

6.125

5.655

2.861

6.125

0.715

3.23

Dominica

-0.727

1.571

7.707

3.463

2.808

7.707

-0.727

2.9644

Guyana

1.232

3.321

6.477

4.537

2.794

6.477

1.232

3.6722

Malaysia

-1.139

2.477

3.379

2.489

2.793

3.379

-1.139

1.9998

Mauritania

2.382

3.558

9.553

4.949

2.785

9.553

2.382

4.6454

Greece

-1.262

0.574

9.3

4.155

2.749

9.3

-1.262

3.1032

Togo

1.831

4.548

7.616

5.059

2.742

7.616

1.831

4.3592

Slovenia

-0.055

1.917

8.834

7.447

2.733

8.834

-0.055

4.1752

Jordan

0.397

1.319

4.224

2.163

2.72

4.224

0.397

2.1646

Spain

-0.337

3.008

8.323

3.4

2.674

8.323

-0.337

3.4136

Netherlands

1.106

2.819

11.617

4.117

2.66

11.617

1.106

4.4638

Antigua and Barbuda

1.058

1.627

7.531

5.067

2.634

7.531

1.058

3.5834

Canada

0.717

3.395

6.803

3.879

2.606

6.803

0.717

3.48

Georgia

5.202

9.567

11.898

2.488

2.58

11.898

2.488

6.347

Qatar

-2.523

2.277

4.96

3.086

2.58

4.96

-2.523

2.076

Sweden

0.658

2.651

8.055

5.91

2.574

8.055

0.658

3.9696

Indonesia

2.031

1.561

4.139

3.713

2.557

4.139

1.561

2.8002

Luxembourg

0.006

3.468

8.15

2.929

2.539

8.15

0.006

3.4184

Korea

0.537

2.498

5.09

3.593

2.522

5.09

0.537

2.848

St. Kitts and Nevis

-1.177

1.206

2.669

3.611

2.46

3.611

-1.177

1.7538

United Kingdom

0.851

2.588

9.067

7.306

2.453

9.067

0.851

4.453

Israel

-0.587

1.492

4.395

4.208

2.448

4.395

-0.587

2.3912

France

0.527

2.068

5.903

5.662

2.417

5.903

0.527

3.3154

Germany

0.371

3.212

8.666

6.03

2.406

8.666

0.371

4.137

Ireland

-0.443

2.413

8.049

5.209

2.38

8.049

-0.443

3.5216

Aruba

-1.313

0.744

5.52

3.366

2.345

5.52

-1.313

2.1324

Peru

1.827

3.979

7.871

6.269

2.328

7.871

1.827

4.4548

Cyprus

-1.098

2.243

8.084

3.943

2.312

8.084

-1.098

3.0968

Hong Kong SAR

0.251

1.569

1.881

2.097

2.3

2.3

0.251

1.6196

Cambodia

2.938

2.921

5.327

2.143

2.268

5.327

2.143

3.1194

San Marino

-0.133

2.083

5.304

6.079

2.264

6.079

-0.133

3.1194

Saudi Arabia

3.445

3.063

2.474

2.327

2.257

3.445

2.257

2.7132

Portugal

-0.121

0.941

8.103

5.264

2.248

8.103

-0.121

3.287

Japan

-0.027

-0.235

2.497

3.268

2.237

3.268

-0.235

1.548

Morocco

0.688

1.366

6.641

6.137

2.158

6.641

0.688

3.398

Czech Republic

3.161

3.84

15.1

10.661

2.138

15.1

2.138

6.98

Burkina Faso

1.885

3.908

13.779

0.942

2.1

13.779

0.942

4.5228

United Arab Emirates

-2.076

-0.113

4.827

1.623

2.1

4.827

-2.076

1.2722

Gabon

1.703

1.077

4.25

3.634

2.09

4.25

1.077

2.5508

The Bahamas

0.039

2.905

5.605

3.059

2.042

5.605

0.039

2.73

Cabo Verde

0.605

1.863

7.93

3.148

2

7.93

0.605

3.1092

Comoros

0.8

-0.015

12.444

8.482

1.957

12.444

-0.015

4.7336

Latvia

0.081

3.239

17.245

9.058

1.954

17.245

0.081

6.3154

Puerto Rico

-0.497

2.41

6.018

2.804

1.9

6.018

-0.497

2.527

Taiwan

-0.238

1.971

2.947

2.492

1.881

2.947

-0.238

1.8106

Djibouti

1.779

1.181

5.172

1.8

1.811

5.172

1.181

2.3486

St. Lucia

-1.755

2.41

6.373

3.651

1.759

6.373

-1.755

2.4876

Panama

-1.55

1.631

2.86

1.486

1.735

2.86

-1.55

1.2324

Grenada

-0.742

1.22

2.582

3.037

1.709

3.037

-0.742

1.5612

Macao SAR

0.811

0.027

1.045

0.936

1.7

1.7

0.027

0.9038

Italy

-0.145

1.941

8.736

5.903

1.673

8.736

-0.145

3.6216

Switzerland

-0.725

0.582

2.834

2.134

1.537

2.834

-0.725

1.2724

Trinidad and Tobago

0.599

2.061

5.826

4.629

1.484

5.826

0.599

2.9198

Lithuania

1.062

4.625

18.858

8.685

1.46

18.858

1.062

6.938

Denmark

0.333

1.944

8.534

3.353

1.459

8.534

0.333

3.1246

Bahrain

-2.325

-0.611

3.635

0.075

1.4

3.635

-2.325

0.4348

Ecuador

-0.339

0.133

3.466

2.216

1.367

3.466

-0.339

1.3686

Brunei Darussalam

1.94

1.733

3.683

0.37

1.3

3.683

0.37

1.8052

Oman

-0.395

1.664

2.512

0.947

1.3

2.512

-0.395

1.2056

Finland

0.383

2.066

7.172

4.34

1.212

7.172

0.383

3.0346

Mali

0.481

3.808

9.734

2.053

1

9.734

0.481

3.4152

China

2.492

0.918

1.975

0.228

0.97

2.492

0.228

1.3166

El Salvador

-0.37

3.468

7.196

4.047

0.896

7.196

-0.37

3.0474

Thailand

-0.847

1.231

6.077

1.228

0.7

6.077

-0.847

1.6778

Costa Rica

0.725

1.727

8.275

0.525

0.286

8.275

0.286

2.3076

Seychelles

1.203

9.77

2.625

-1.035

-0.239

9.77

-1.035

2.4648

Afghanistan

5.607

7.762

10.6

n/a

n/a

10.6

5.607

7.989666667

Eritrea

n/a

n/a

n/a

n/a

n/a

0

0

0

Lebanon

84.88

154.759

171.195

n/a

n/a

171.195

84.88

136.9446667

Sri Lanka

4.569

5.954

45.214

n/a

n/a

45.214

4.569

18.579

Syria

n/a

n/a

n/a

n/a

n/a

0

0

0

West Bank and Gaza

-0.711

1.238

3.74

5.872

n/a

5.872

-0.711

2.53475

Maximum

2355.15

1588.51

193.399

667.361

560.981

2355.15

Minimum

-2.595

-3.01

-3.21

-1.738

-0.239

-0.239

Average

19.84480412

16.58402062

13.61031443

14.97128796

11.64923684

19.84480412

Source: https://gfmag.com/data/economic-data/worlds-highest-lowest-inflation-rates/



Analysis

Extreme Inflation Cases

  • Zimbabwe and Venezuela demonstrate the most extreme cases of hyperinflation over the period. Zimbabwe had a peak inflation of 667.36% in 2023, while Venezuela peaked in 2020 at an astronomical 2355.15%, although this rate significantly decreased in subsequent years. 

2. High Inflation in Emerging Economies

  • Argentina, Sudan, and Türkiye also exhibit significant inflation. Argentina's inflation rate reached 249.79% by 2024, indicating a persistent economic crisis. Sudan, though exhibiting fluctuating rates, had a maximum inflation rate of 359.09% in 2021, While Turkey saw its inflation rise sharply in 2022 to 72.30%. 

3. Moderate to High Inflation in Developing Countries

  • Countries like Pakistan, Nigeria, and Egypt show moderate but consistently rising inflation. Pakistan's inflation rose from 10.74% in 2020 to 29.18% by 2023, suggesting worsening economic conditions. 

4. Declining Inflation Rates

  • Angola, South Sudan, and Burundi show relatively controlled inflation trends. South Sudan even had negative inflation in 2022 (-3.21%), although this was short-lived, as it increased again in the following years. This indicates some level of economic stabilization after initial shocks.

5. Inflation Control in Developed Economies

  • Developed countries like the United States, Germany, and France experienced moderate inflation increases but remained significantly lower compared to emerging markets. The US saw inflation rise to 7.99% in 2022, while Germany and France peaked at 8.67% and 5.90%, respectively. These numbers, although high for these economies, reflect a controlled economic environment compared to the hyperinflationary economies.

6. Deflation and Negative Inflation

  • Some countries experienced deflation during the period, such as Japan, Switzerland, and Thailand. Japan saw inflation rates as low as -0.24% in 2021. Deflation can indicate weak demand, falling prices, and slow economic growth.

 

 

Maximum Inflation Rates by Year and Country

  • 2020: Venezuela had the highest inflation rate at 2,355.15%, reflecting hyperinflation due to severe economic instability.
  • 2021: Venezuela remained the highest with 1,588.51% inflation, continuing its hyperinflation crisis.
  • 2022: Zimbabwe reached the highest inflation rate at 193.399%, after a brief period of stabilization.
  • 2023: Zimbabwe again recorded the highest inflation rate at 667.361%, showing a significant economic downturn.
  • 2024: Zimbabwe is projected to still hold the highest inflation at 560.981%, indicating ongoing hyperinflation.

Minimum Inflation Rates by Year and Country

  • 2020: Fiji recorded the lowest inflation at -2.595%, reflecting deflation in its economy.
  • 2021: Samoa had the lowest inflation rate at -3.01%, indicating economic contraction.
  • 2022: South Sudan had the lowest inflation at -3.21%, marking recovery from previous inflationary years.
  • 2023: Turkmenistan showed the lowest inflation rate at -1.738%, reflecting economic deflation.
  • 2024: Seychelles had the minimum projected inflation at -0.239%, indicating potential deflation or price stabilization.


 Inflation#analysis#global#comparision




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