Introduction
Inflation is a persistent increase in the overall price level of goods and services in an economy over time. It is one of the most closely watched economic indicators as it affects the purchasing power of a currency. Inflation can be caused by various factors such as an increase in the money supply, higher production costs, and supply chain disruptions. In recent years, many countries have experienced inflationary pressures due to the COVID-19 pandemic, which has disrupted global supply chains and caused a surge in demand for certain goods and services.
Inflation can have both positive and negative effects on an economy. On one hand, moderate inflation can stimulate economic growth by increasing consumer spending, encouraging investment, and reducing debt burdens. On the other hand, high or volatile inflation can harm economic growth by reducing consumer purchasing power, causing uncertainty, and leading to higher interest rates. In extreme cases, hyperinflation can lead to a collapse in the value of a currency, as was seen in countries like Zimbabwe and Venezuela.
Central banks and governments use a range of tools to manage inflation, such as setting interest rates, controlling the money supply, and implementing fiscal policies. However, finding the right balance between controlling inflation and promoting economic growth is a complex task. Ultimately, sustained economic growth with low inflation is the goal for most economies, and achieving this requires a delicate balance of policy decisions and market forces.
Inflation Rate by Country
| # | Country | Inflation Rate (2022) | Percentage Change (vs. 2021) |
|---|---|---|---|
| 1 | Zimbabwe | 284.94% | 189.13% |
| 2 | Venezuela | 210% | -86.78% |
| 3 | Sudan | 154.91% | -56.86% |
| 4 | Turkey | 73.13% | 273.11% |
| 5 | Argentina | 72.37% | 49.49% |
| 6 | Sri Lanka | 48.19% | 708.56% |
| 7 | Suriname | 47.56% | -19.55% |
| 8 | Yemen | 43.85% | -4.05% |
| 9 | Iran | 39.99% | -0.35% |
| 10 | Ethiopia | 33.64% | 25.62% |
| 11 | Moldova | 28.48% | 458.43% |
| 12 | Ghana | 27.18% | 172.34% |
| 13 | Haiti | 26.82% | 68.26% |
| 14 | Sierra Leone | 25.91% | 118.28% |
| 15 | Angola | 21.69% | -15.83% |
| 16 | Estonia | 21% | 367.71% |
| 17 | Ukraine | 20.55% | 119.55% |
| 18 | Nigeria | 18.91% | 11.56% |
| 19 | Malawi | 18.45% | 97.54% |
| 20 | Lithuania | 17.61% | 280.35% |
| 21 | South Sudan | 17.6% | -41.78% |
| 22 | Turkmenistan | 17.5% | 17.06% |
| 23 | Burundi | 17.34% | 108.66% |
| 24 | Belarus | 16.51% | 74.71% |
| 25 | Latvia | 16.45% | 407.72% |
| 26 | Czech Republic | 16.34% | 325.52% |
| 27 | Myanmar | 16.16% | 343.96% |
| 28 | São Tomé and Príncipe | 15.05% | 84.89% |
| 29 | Laos | 15% | 300% |
| 30 | Mongolia | 14.83% | 108.58% |
| 31 | Burkina Faso | 14.2% | 267.88% |
| 32 | Kazakhstan | 13.97% | 74.63% |
| 33 | Hungary | 13.88% | 170.57% |
| 34 | Poland | 13.81% | 169.73% |
| 35 | Russia | 13.77% | 105.83% |
| 36 | Romania | 13.34% | 164.16% |
| 37 | Montenegro | 12.76% | 431.67% |
| 38 | Guinea | 12.72% | 0.95% |
| 39 | Zambia | 12.53% | -43.1% |
| 40 | Bulgaria | 12.4% | 336.62% |
| 41 | Azerbaijan | 12.24% | 83.78% |
| 42 | Palau | 12.2% | 2611.11% |
| 43 | Pakistan | 12.15% | 36.52% |
| 44 | Kosovo | 12% | 262.54% |
| 45 | Netherlands | 11.98% | 323.32% |
| 46 | Slovakia | 11.94% | 323.4% |
| 47 | Georgia | 11.65% | 21.73% |
| 48 | Chile | 11.63% | 157.3% |
| 49 | Serbia | 11.46% | 180.2% |
| 50 | Comoros | 11.44% | -6455.56% |
| 51 | The Gambia | 11.31% | 53.46% |
| 52 | Mozambique | 11.26% | 97.89% |
| 53 | Botswana | 11.16% | 66.82% |
| 54 | Uzbekistan | 11.15% | 2.76% |
| 55 | Republic of Macedonia | 10.61% | 228.48% |
| 56 | Bosnia and Herzegovina | 10.5% | 425% |
| 57 | Mauritius | 10.18% | 151.98% |
| 58 | Nicaragua | 9.94% | 102.03% |
| 59 | Barbados | 9.9% | 223.53% |
| 60 | Madagascar | 9.8% | 68.38% |
| 61 | Croatia | 9.76% | 273.95% |
| 62 | Colombia | 9.75% | 178.57% |
| 63 | Algeria | 9.74% | 34.72% |
| 64 | Rwanda | 9.5% | 1058.54% |
| 65 | Paraguay | 9.48% | 97.91% |
| 66 | Belgium | 9.47% | 194.1% |
| 67 | Brazil | 9.41% | 13.37% |
| 68 | Greece | 9.17% | 1508.77% |
| 69 | United Kingdom | 9.12% | 252.12% |
| 70 | Uruguay | 9.11% | 17.55% |
| 71 | Dominican Republic | 9.02% | 9.47% |
| 72 | Jamaica | 9% | 52.54% |
| 73 | Somalia | 9% | 94.81% |
| 74 | Slovenia | 8.92% | 367.02% |
| 75 | Costa Rica | 8.87% | 412.72% |
| 76 | Spain | 8.83% | 185.76% |
| 77 | Italy | 8.74% | 350.52% |
| 78 | Honduras | 8.62% | 92.41% |
| 79 | Armenia | 8.54% | 18.61% |
| 80 | Antigua and Barbuda | 8.52% | 422.7% |
| 81 | Egypt | 8.5% | 88.89% |
| 82 | Germany | 8.46% | 163.55% |
| 83 | Democratic Republic of the Congo | 8.44% | -6.12% |
| 84 | Iceland | 8.43% | 89.01% |
| 85 | Ireland | 8.4% | 248.55% |
| 86 | Luxembourg | 8.39% | 141.79% |
| 87 | Tajikistan | 8.25% | -8.03% |
| 88 | Lesotho | 8.12% | 34.21% |
| 89 | Tunisia | 8.08% | 41.51% |
| 90 | United States of America | 8.05% | 71.64% |
| 91 | Mexico | 8.03% | 41.12% |
| 92 | Mali | 8% | 109.97% |
| 93 | Cyprus | 7.99% | 255.11% |
| 94 | Portugal | 7.9% | 740.43% |
| 95 | Austria | 7.73% | 181.09% |
| 96 | Bhutan | 7.66% | -39.3% |
| 97 | Guyana | 7.59% | 128.61% |
| 98 | Senegal | 7.5% | 244.04% |
| 99 | Peru | 7.46% | 87.44% |
| 100 | Kenya | 7.38% | 20.79% |
| 101 | Eritrea | 7.35% | 10.69% |
| 102 | El Salvador | 7.29% | 110.09% |
| 103 | Sweden | 7.24% | 173.21% |
| 104 | Denmark | 7.2% | 271.13% |
| 105 | Mauritania | 7.1% | 88.33% |
| 106 | East Timor | 7% | 85.19% |
| 107 | Liberia | 6.91% | -11.64% |
| 108 | Canada | 6.9% | 102.94% |
| 109 | India | 6.89% | 25.05% |
| 110 | San Marino | 6.88% | 230.77% |
| 111 | South Africa | 6.74% | 47.81% |
| 112 | Belize | 6.6% | 103.7% |
| 113 | Papua New Guinea | 6.6% | 46.99% |
| 114 | Djibouti | 6.59% | 458.47% |
| 115 | Finland | 6.55% | 216.43% |
| 116 | Central African Republic | 6.53% | 53.29% |
| 117 | Australia | 6.5% | 130.5% |
| 118 | Iraq | 6.47% | 7.12% |
| 119 | Uganda | 6.44% | 191.4% |
| 120 | Marshall Islands | 6.4% | 145.21% |
| 121 | Namibia | 6.4% | 76.8% |
| 122 | Guatemala | 6.37% | 49.53% |
| 123 | Thailand | 6.33% | 414.63% |
| 124 | New Zealand | 6.28% | 59.39% |
| 125 | Nepal | 6.26% | 73.89% |
| 126 | Albania | 6.24% | 205.88% |
| 127 | Morocco | 6.2% | 342.86% |
| 128 | Bangladesh | 6.15% | 10.61% |
| 129 | Aruba | 6.04% | 716.22% |
| 130 | Malta | 5.87% | 726.76% |
| 131 | France | 5.81% | 182.04% |
| 132 | The Bahamas | 5.66% | 94.5% |
| 133 | Togo | 5.59% | 29.4% |
| 134 | Singapore | 5.54% | 139.83% |
| 135 | Guinea-Bissau | 5.52% | 68.81% |
| 136 | Ivory Coast | 5.52% | 32.69% |
| 137 | Libya | 5.52% | 99.28% |
| 138 | Philippines | 5.32% | 35.37% |
| 139 | Andorra | 5.29% | 211.18% |
| 140 | Dominica | 5.28% | 236.31% |
| 141 | United Arab Emirates | 5.22% | 2800% |
| 142 | Cambodia | 5.21% | 78.42% |
| 143 | Equatorial Guinea | 5.14% | -5811.11% |
| 144 | Trinidad and Tobago | 5.05% | 236.67% |
| 145 | Benin | 5% | 194.12% |
| 146 | Chad | 4.94% | -741.56% |
| 147 | Eswatini | 4.87% | 30.91% |
| 148 | Fiji | 4.75% | 2868.75% |
| 149 | Norway | 4.7% | 35.06% |
| 150 | Indonesia | 4.63% | 196.79% |
| 151 | Cameroon | 4.58% | 102.65% |
| 152 | Vanuatu | 4.58% | 95.73% |
| 153 | Israel | 4.52% | 203.36% |
| 154 | Grenada | 4.51% | 269.67% |
| 155 | Niger | 4.51% | 17.45% |
| 156 | Qatar | 4.48% | 99.11% |
| 157 | Puerto Rico | 4.39% | 82.16% |
| 158 | Kuwait | 4.32% | 27.06% |
| 159 | Maldives | 4.27% | 1933.33% |
| 160 | Seychelles | 4.11% | -57.93% |
| 161 | Tanzania | 3.96% | 7.32% |
| 162 | Panama | 3.94% | 141.72% |
| 163 | Jordan | 3.8% | 187.88% |
| 164 | Vietnam | 3.76% | 105.46% |
| 165 | Solomon Islands | 3.74% | -3500% |
| 166 | Bahrain | 3.5% | -673.77% |
| 167 | Gabon | 3.5% | 224.07% |
| 168 | Republic of the Congo | 3.5% | 77.66% |
| 169 | Malaysia | 3.23% | 30.24% |
| 170 | Ecuador | 3.21% | 2369.23% |
| 171 | Bolivia | 3.19% | 331.08% |
| 172 | Oman | 3.11% | 100.65% |
| 173 | Taiwan | 3.1% | 57.36% |
| 174 | Switzerland | 3.06% | 427.59% |
| 175 | Saudi Arabia | 2.7% | -11.76% |
| 176 | Macau | 2.51% | 8266.67% |
| 177 | Brunei | 2.5% | 44.51% |
| 178 | People's Republic of China | 2.17% | 155.29% |
| 179 | Nauru | 2% | 66.67% |
| 180 | Japan | 1.99% | -929.17% |
| 181 | Hong Kong | 1.9% | 21.02% |
Inflation by Country
Inflation rates are an important economic indicator that can provide useful insight into the overall fiscal health of countries around the world. According to data from the IMF, which tracked the inflation rate by country for 2022, there are a number of interesting trends and patterns at play. For example, Zimbabwe has the highest inflation rate in the world at 284.94%, which is far above the second country with the highest inflation, Venezuela, with an inflation rate of 210%. This is due to a number of factors including hyperinflation caused by the country’s long standing economic crisis and hefty sanctions by other countries. By contrast, some countries have very low inflation rates such as Qatar (4.48%) and Switzerland (3.06%). These countries typically have strong economies with low debt levels, low population growth rates, and healthy trade relations with their neighbors.
There are also some differences in regional trends when it comes to inflation rates. African nations tend to generally have higher inflation rates than those found elsewhere in the world due to a variety of factors including political instability, poor infrastructure, and frequent natural disasters (such as droughts). On the other hand, many European countries tend to boast some of the lowest inflation levels on earth due to their strong macroeconomic policies and favorable global financial conditions. In Asia Pacific, meanwhile, Japan has one of the lowest inflation rates in 2022 at 1.99%. This is thanks primarily to its effective fiscal policies and widespread adoption of digital technologies that increase efficiency across industries within its borders.
Overall, while there is great variation between countries when it comes to their respective inflation levels – ranging from extreme highs approaching 300% in Zimbabwe all the way down to around 2% like in Japan and China – this data does give us valuable insight into a nation’s overall economic health and performance over time. Countries with healthier fiscal systems tend to display lower overall inflation levels year after year while those with weaker economies will often experience more severe spikes in prices across consumer goods and services due to structural deficiencies or external pressures such as sanctions imposed by other nations.
Countries With Highest Inflation
According to the IMF, in 2022 the 20 countries with the highest inflation were Zimbabwe, Venezuela, Sudan, Turkey, Argentina, Sri Lanka, Lithuania, Estonia, Ukraine, Moldova, Suriname, Ghana, Haiti, Sierra Leone, Angola, Nigeria, Malawi, Iran, Yemen, and Ethiopia. Zimbabwe had the highest inflation, with an inflation rate of 284.94%, followed by Venezuela with an inflation rate of 210%. Sudan, Turkey, and Argentina had the next three highest inflation rates, at 154.91%, 73.13%, and 72.37% respectively.
The remaining 17 countries on the list of countries with the highest inflation range from Sri Lanka (48.19%) to Lithuania (17.61%). In terms of geographical distribution, Europe has four nations in the list of countries with the highest inflation : Estonia (21%), Ukraine (20.55%), Moldova (28.48%), and Lithuania (17.61%). Africa’s countries with the highest inflation are represented by Sudan, Ghana, Haiti, Sierra Leone, Angola, Nigeria, Ethiopia, and Malawi, who all have an inflation rate above 15%. The Middle East’s countries with the highest inflation are Iran (39.99%), Turkey (73%), and Yemen (43%), while Asia has Sri Lanka with an inflation rate of 48%. Finally, South America only has two of its countries in the top 20 countries with the highest inflation: Venezuela, with an inflation rate of 210%, and Suriname, at a 47.56% inflation rate.
Countries With Highest Inflation Rates
1. Zimbabwe – 284.94%
2. Venezuela – 210%
3. Sudan – 154.91%
4. Turkey – 73.13%
5. Argentina – 72.37%
6. Sri Lanka – 48.19%
7. Suriname – 47.56%
8. Yemen – 43.85%
9. Iran – 39.99%
10. Ethiopia – 33.64%
11. Moldova – 28.48%
12. Ghana – 27.18%
13. Haiti – 26.82%
14. Sierra Leone – 25.91%
15. Angola – 21.69%
16. Estonia – 21%
17. Ukraine – 20.55%
18. Nigeria – 18.91%
19. Malawi – 18.45%
20. Lithuania – 17.61%
Highest Inflation Rate in the World
Zimbabwe has the highest inflation rate in the world, with an inflation rate of 284.94%. This means that prices for goods and services are essentially out of control. Many everyday items such as food, clothing, transportation, and even basic necessities like medicine have become exorbitantly expensive. In fact, the cost of living in Zimbabwe is now more than double what it was just two years ago. The country’s financial situation is so dire that many citizens cannot afford to purchase necessary items or put food on their table. Additionally, the value of Zimbabwean currency has plummeted to an all-time low. As a result of this record-breaking inflation rate, many citizens have resorted to bartering in order to get by or have been forced to leave their home country in search of employment abroad.
Inflation Rate by Country
Albania
Inflation Rate
6.24%
↑ 205.88%
Vs 2021
Ranked in the World
#126
78.1%
Ranked in the World
#48
Algeria
Inflation Rate
9.74%
↑ 34.72%
Vs 2021
Ranked in the World
#63
62.5%
Ranked in the World
#73
Andorra
Inflation Rate
5.29%
↑ 211.18%
Vs 2021
Ranked in the World
#139
Angola
Inflation Rate
21.69%
↓ 15.83%
Vs 2021
Ranked in the World
#15
Ranked in the World
#32
Antigua and Barbuda
Inflation Rate
8.52%
↑ 422.7%
Vs 2021
Ranked in the World
#80
Argentina
Inflation Rate
72.37%
↑ 49.49%
Vs 2021
Ranked in the World
#5
80.5%
Ranked in the World
#42
The inflation rate in Argentina is 72.37%, ranking the country fifth in terms of the highest inflation rate in the world. This rate has been increasing by 49.49% since 2021. The rising cost of living has taken a toll on Argentine citizens, forcing many to take drastic measures such as significantly reducing their spending and taking out loans just to make ends meet. In response, the government has implemented various economic policies aimed at mitigating the effects of inflation, including tax reliefs and increases in public sector salaries. However, these have so far had little effect on curbing inflationary pressures. As such, Argentina's high inflation rate remains a major concern for its citizens and policymakers alike.
Armenia
Inflation Rate
8.54%
↑ 18.61%
Vs 2021
Ranked in the World
#79
60.25%
Ranked in the World
#80
Aruba
Inflation Rate
6.04%
↑ 716.22%
Vs 2021
Ranked in the World
#129
Australia
Inflation Rate
6.5%
↑ 130.5%
Vs 2021
Ranked in the World
#117
36.1%
Ranked in the World
#137
Austria
Inflation Rate
7.73%
↑ 181.09%
Vs 2021
Ranked in the World
#95
82.8%
Ranked in the World
#39
Azerbaijan
Inflation Rate
12.24%
↑ 83.78%
Vs 2021
Ranked in the World
#41
18.2%
Ranked in the World
#157
Bahrain
Inflation Rate
3.5%
↓ 673.77%
Vs 2021
Ranked in the World
#166
Ranked in the World
#15
Bangladesh
Inflation Rate
6.15%
↑ 10.61%
Vs 2021
Ranked in the World
#128
33.9%
Ranked in the World
#140
Barbados
Inflation Rate
9.9%
↑ 223.53%
Vs 2021
Ranked in the World
#59
Belarus
Inflation Rate
16.51%
↑ 74.71%
Vs 2021
Ranked in the World
#24
33.5%
Ranked in the World
#141
Belgium
Inflation Rate
9.47%
↑ 194.1%
Vs 2021
Ranked in the World
#66
Ranked in the World
#20
Belize
Inflation Rate
6.6%
↑ 103.7%
Vs 2021
Ranked in the World
#112
74.5%
Ranked in the World
#56
Benin
Inflation Rate
5%
↑ 194.12%
Vs 2021
Ranked in the World
#145
47.2%
Ranked in the World
#108
Bhutan
Inflation Rate
7.66%
↓ 39.3%
Vs 2021
Ranked in the World
#96
Ranked in the World
#10
Bolivia
Inflation Rate
3.19%
↑ 331.08%
Vs 2021
Ranked in the World
#171
82.6%
Ranked in the World
#40
Bosnia and Herzegovina
Inflation Rate
10.5%
↑ 425%
Vs 2021
Ranked in the World
#56
24.8%
Ranked in the World
#150
Botswana
Inflation Rate
11.16%
↑ 66.82%
Vs 2021
Ranked in the World
#53
24.2%
Ranked in the World
#152
Brazil
Inflation Rate
9.41%
↑ 13.37%
Vs 2021
Ranked in the World
#67
80.27%
Ranked in the World
#43
Brunei
Inflation Rate
2.5%
↑ 44.51%
Vs 2021
Ranked in the World
#177
Ranked in the World
#166
Bulgaria
Inflation Rate
12.4%
↑ 336.62%
Vs 2021
Ranked in the World
#40
22.9%
Ranked in the World
#155
Burkina Faso
Inflation Rate
14.2%
↑ 267.88%
Vs 2021
Ranked in the World
#31
59.6%
Ranked in the World
#82
Burundi
Inflation Rate
17.34%
↑ 108.66%
Vs 2021
Ranked in the World
#23
Ranked in the World
#160
Cambodia
Inflation Rate
5.21%
↑ 78.42%
Vs 2021
Ranked in the World
#142
36.8%
Ranked in the World
#132
The inflation rate in Cambodia is 5.21%, ranking the country one hundred forty-second in terms of the highest inflation rate in the world. In comparison to 2021, Cambodia’s inflation rate increased by 78.42%. As a result of this significant uptick, many Cambodians are feeling the crisis of rising costs for basic goods and services such as food, rent, utilities, and transportation. In an effort to combat this issue, The Royal Government of Cambodia announced targeted measures designed to stem rising prices by reducing import taxes and increasing government subsidies for essential commodities. These initiatives have yet to be fully implemented.
Cameroon
Inflation Rate
4.58%
↑ 102.65%
Vs 2021
Ranked in the World
#151
46.8%
Ranked in the World
#111
Canada
Inflation Rate
6.9%
↑ 102.94%
Vs 2021
Ranked in the World
#108
Ranked in the World
#18
Central African Republic
Inflation Rate
6.53%
↑ 53.29%
Vs 2021
Ranked in the World
#116
52.1%
Ranked in the World
#98
Chad
Inflation Rate
4.94%
↓ 741.56%
Vs 2021
Ranked in the World
#146
44.7%
Ranked in the World
#114
Chile
Inflation Rate
11.63%
↑ 157.3%
Vs 2021
Ranked in the World
#48
36.3%
Ranked in the World
#136
Colombia
Inflation Rate
9.75%
↑ 178.57%
Vs 2021
Ranked in the World
#62
61.1%
Ranked in the World
#75
Comoros
Inflation Rate
11.44%
↓ 6455.56%
Vs 2021
Ranked in the World
#50
31.1%
Ranked in the World
#143
Costa Rica
Inflation Rate
8.87%
↑ 412.72%
Vs 2021
Ranked in the World
#75
78.64%
Ranked in the World
#47
The inflation rate in Costa Rica is 8.87%, ranking the country seventy-fifth in terms of the highest inflation rate in the world. The inflation rate in Costa Rica increased by 412.72% since 2021. This is a significant challenge for the national economy and its citizens, who have seen their purchasing power erode as prices rise at an ever-accelerating pace. These higher prices have already caused financial hardship for many households, reducing their ability to purchase basic needs like food, clothing, and medicine.
Croatia
Inflation Rate
9.76%
↑ 273.95%
Vs 2021
Ranked in the World
#61
79.8%
Ranked in the World
#45
Cyprus
Inflation Rate
7.99%
↑ 255.11%
Vs 2021
Ranked in the World
#93
Ranked in the World
#22
Czech Republic
Inflation Rate
16.34%
↑ 325.52%
Vs 2021
Ranked in the World
#26
41.9%
Ranked in the World
#122
Democratic Republic of the Congo
Inflation Rate
8.44%
↓ 6.12%
Vs 2021
Ranked in the World
#83
14.7%
Ranked in the World
#161
Denmark
Inflation Rate
7.2%
↑ 271.13%
Vs 2021
Ranked in the World
#104
36.7%
Ranked in the World
#133
The inflation rate in Denmark is 7.2%, ranking the country one hundred and fourth in terms of the highest inflation rate in the world. This rate has increased by over 271.13% since 2021, making it even more difficult for citizens to maintain their standard of living. With this rapid growth in prices, citizens may need to alter their budgeting plans and adjust to higher costs for everyday items such as food and transport. Moreover, businesses in Denmark are also required to keep up with these changing prices, as failure to do so could lead to a decrease in profit margins and an overall reduction in economic activity.
Djibouti
Inflation Rate
6.59%
↑ 458.47%
Vs 2021
Ranked in the World
#114
43.2%
Ranked in the World
#119
Dominica
Inflation Rate
5.28%
↑ 236.31%
Vs 2021
Ranked in the World
#140
Dominican Republic
Inflation Rate
9.02%
↑ 9.47%
Vs 2021
Ranked in the World
#71
50.4%
Ranked in the World
#104
East Timor
Inflation Rate
7%
↑ 85.19%
Vs 2021
Ranked in the World
#106
Ecuador
Inflation Rate
3.21%
↑ 2369.23%
Vs 2021
Ranked in the World
#170
Ranked in the World
#83
Egypt
Inflation Rate
8.5%
↑ 88.89%
Vs 2021
Ranked in the World
#81
87.2%
Ranked in the World
#31
El Salvador
Inflation Rate
7.29%
↑ 110.09%
Vs 2021
Ranked in the World
#102
84.75%
Ranked in the World
#34
Equatorial Guinea
Inflation Rate
5.14%
↓ 5811.11%
Vs 2021
Ranked in the World
#143
27.1%
Ranked in the World
#149
Eritrea
Inflation Rate
7.35%
↑ 10.69%
Vs 2021
Ranked in the World
#101
Ranked in the World
#6
Estonia
Inflation Rate
21%
↑ 367.71%
Vs 2021
Ranked in the World
#16
18.1%
Ranked in the World
#159
Eswatini
Inflation Rate
4.87%
↑ 30.91%
Vs 2021
Ranked in the World
#147
Ethiopia
Inflation Rate
33.64%
↑ 25.62%
Vs 2021
Ranked in the World
#10
Ranked in the World
#86
The inflation rate in Ethiopia is 33.64%, ranking the country tenth in terms of the highest inflation rate in the world. This rate has increased by over 25% since 2021, causing serious problems for citizens who are already struggling with poverty and food insecurity. With prices of basic goods continually being driven up, families are finding it increasingly difficult to make ends meet. The Ethiopian government is taking steps to try and curb this high rate of inflation, such as reducing taxes on essential commodities and setting price controls on certain products. However, these efforts have not yet been effective enough to make a significant impact on the high cost of living within the country.
Fiji
Inflation Rate
4.75%
↑ 2868.75%
Vs 2021
Ranked in the World
#148
79.8%
Ranked in the World
#46
Finland
Inflation Rate
6.55%
↑ 216.43%
Vs 2021
Ranked in the World
#115
72.4%
Ranked in the World
#60
France
Inflation Rate
5.81%
↑ 182.04%
Vs 2021
Ranked in the World
#131
Ranked in the World
#19
Gabon
Inflation Rate
3.5%
↑ 224.07%
Vs 2021
Ranked in the World
#167
Ranked in the World
#93
Georgia
Inflation Rate
11.65%
↑ 21.73%
Vs 2021
Ranked in the World
#47
57.1%
Ranked in the World
#85
Germany
Inflation Rate
8.46%
↑ 163.55%
Vs 2021
Ranked in the World
#82
69.3%
Ranked in the World
#63
Ghana
Inflation Rate
27.18%
↑ 172.34%
Vs 2021
Ranked in the World
#12
81.8%
Ranked in the World
#41
Greece
Inflation Rate
9.17%
↑ 1508.77%
Vs 2021
Ranked in the World
#68
Ranked in the World
#3
Grenada
Inflation Rate
4.51%
↑ 269.67%
Vs 2021
Ranked in the World
#154
Guatemala
Inflation Rate
6.37%
↑ 49.53%
Vs 2021
Ranked in the World
#122
29.98%
Ranked in the World
#146
Guinea
Inflation Rate
12.72%
↑ 0.95%
Vs 2021
Ranked in the World
#38
43.3%
Ranked in the World
#118
Guinea-Bissau
Inflation Rate
5.52%
↑ 68.81%
Vs 2021
Ranked in the World
#135
Guyana
Inflation Rate
7.59%
↑ 128.61%
Vs 2021
Ranked in the World
#97
43.7%
Ranked in the World
#117
The inflation rate in Guyana is 7.59%, ranking the country ninety-seventh in terms of the highest inflation rate globally. This rate has increased significantly since 2021, with a rise of 128.61%. The rising cost of goods and services has caused major economic issues for the nation's citizens, leaving many unable to afford basic necessities they require. To counteract this rapid increase, the government has taken steps toward implementing fiscal and monetary policies to keep inflation under control. Despite these efforts, the inflation rate continues to remain high.
Haiti
Inflation Rate
26.82%
↑ 68.26%
Vs 2021
Ranked in the World
#13
23.1%
Ranked in the World
#154
Honduras
Inflation Rate
8.62%
↑ 92.41%
Vs 2021
Ranked in the World
#78
51.46%
Ranked in the World
#101
Hong Kong
Inflation Rate
1.9%
↑ 21.02%
Vs 2021
Ranked in the World
#181
Hungary
Inflation Rate
13.88%
↑ 170.57%
Vs 2021
Ranked in the World
#33
73.5%
Ranked in the World
#58
Iceland
Inflation Rate
8.43%
↑ 89.01%
Vs 2021
Ranked in the World
#84
Ranked in the World
#53
India
Inflation Rate
6.89%
↑ 25.05%
Vs 2021
Ranked in the World
#109
89.26%
Ranked in the World
#28
Indonesia
Inflation Rate
4.63%
↑ 196.79%
Vs 2021
Ranked in the World
#150
40.9%
Ranked in the World
#125
Iran
Inflation Rate
39.99%
↓ 0.35%
Vs 2021
Ranked in the World
#9
41.5%
Ranked in the World
#123
Iraq
Inflation Rate
6.47%
↑ 7.12%
Vs 2021
Ranked in the World
#118
36.7%
Ranked in the World
#134
Ireland
Inflation Rate
8.4%
↑ 248.55%
Vs 2021
Ranked in the World
#85
Ranked in the World
#89
Israel
Inflation Rate
4.52%
↑ 203.36%
Vs 2021
Ranked in the World
#153
60.9%
Ranked in the World
#77
Italy
Inflation Rate
8.74%
↑ 350.52%
Vs 2021
Ranked in the World
#77
Ranked in the World
#9
Ivory Coast
Inflation Rate
5.52%
↑ 32.69%
Vs 2021
Ranked in the World
#136
51.4%
Ranked in the World
#102
Jamaica
Inflation Rate
9%
↑ 52.54%
Vs 2021
Ranked in the World
#72
91.5%
Ranked in the World
#26
Japan
Inflation Rate
1.99%
↓ 929.17%
Vs 2021
Ranked in the World
#180
Ranked in the World
#1
Jordan
Inflation Rate
3.8%
↑ 187.88%
Vs 2021
Ranked in the World
#163
89.4%
Ranked in the World
#27
Kazakhstan
Inflation Rate
13.97%
↑ 74.63%
Vs 2021
Ranked in the World
#32
27.4%
Ranked in the World
#148
Kenya
Inflation Rate
7.38%
↑ 20.79%
Vs 2021
Ranked in the World
#100
68.4%
Ranked in the World
#64
Kosovo
Inflation Rate
12%
↑ 262.54%
Vs 2021
Ranked in the World
#44
23.34%
Ranked in the World
#153
Kuwait
Inflation Rate
4.32%
↑ 27.06%
Vs 2021
Ranked in the World
#158
Ranked in the World
#164
Laos
Inflation Rate
15%
↑ 300%
Vs 2021
Ranked in the World
#29
53.81%
Ranked in the World
#94
Latvia
Inflation Rate
16.45%
↑ 407.72%
Vs 2021
Ranked in the World
#25
44.8%
Ranked in the World
#112
Lesotho
Inflation Rate
8.12%
↑ 34.21%
Vs 2021
Ranked in the World
#88
54.7%
Ranked in the World
#92
The inflation rate in Lesotho is 8.12%, ranking the country eighty-eighth in terms of the highest inflation rate in the world. Despite being relatively small and having a largely rural population, Lesotho is facing an increasing price level due to the rising global demand for essential goods. Since 2021 alone, the inflation rate increased by 34.21%. This has caused prices for basic necessities such as food, housing, and health care to increase significantly in recent years.
Liberia
Inflation Rate
6.91%
↓ 11.64%
Vs 2021
Ranked in the World
#107
Ranked in the World
#91
Libya
Inflation Rate
5.52%
↑ 99.28%
Vs 2021
Ranked in the World
#137
Ranked in the World
#8
Lithuania
Inflation Rate
17.61%
↑ 280.35%
Vs 2021
Ranked in the World
#20
44.3%
Ranked in the World
#115
Luxembourg
Inflation Rate
8.39%
↑ 141.79%
Vs 2021
Ranked in the World
#86
24.5%
Ranked in the World
#151
The inflation rate in Luxembourg is 8.39%, ranking the country eighty-sixth in terms of the highest inflation rate in the world. In the last year, the inflation rate has grown by 141.79%, indicating a significant economic crisis in the country. This high inflation rate has had an adverse effect on people’s purchasing power and quality of life as it has driven up prices for basic necessities such as food and housing.
Macau
Inflation Rate
2.51%
↑ 8266.67%
Vs 2021
Ranked in the World
#176
Madagascar
Inflation Rate
9.8%
↑ 68.38%
Vs 2021
Ranked in the World
#60
44.8%
Ranked in the World
#113
Malawi
Inflation Rate
18.45%
↑ 97.54%
Vs 2021
Ranked in the World
#19
58.8%
Ranked in the World
#84
Malaysia
Inflation Rate
3.23%
↑ 30.24%
Vs 2021
Ranked in the World
#169
63.3%
Ranked in the World
#70
The inflation rate in Malaysia is 3.23%, ranking the country one hundred sixty-ninth in terms of the highest inflation rate in the world. Malaysia’s inflation rate has been increasing since 2021, with a growth of 30.24% in that time period. This means that prices of goods and services are rising faster than incomes, thus reducing purchasing power and resulting in an overall decrease in living standards. In order to combat this problem, the Malaysian government is taking several steps such as implementing progressive taxes and providing subsidies for necessities like food and energy. These measures are meant to help keep prices stable and ensure that citizens are able to afford everyday items.
Maldives
Inflation Rate
4.27%
↑ 1933.33%
Vs 2021
Ranked in the World
#159
66.6%
Ranked in the World
#67
Mali
Inflation Rate
8%
↑ 109.97%
Vs 2021
Ranked in the World
#92
Malta
Inflation Rate
5.87%
↑ 726.76%
Vs 2021
Ranked in the World
#130
Ranked in the World
#87
Marshall Islands
Inflation Rate
6.4%
↑ 145.21%
Vs 2021
Ranked in the World
#120
Mauritania
Inflation Rate
7.1%
↑ 88.33%
Vs 2021
Ranked in the World
#105
44.2%
Ranked in the World
#116
Mauritius
Inflation Rate
10.18%
↑ 151.98%
Vs 2021
Ranked in the World
#57
Ranked in the World
#29
Mexico
Inflation Rate
8.03%
↑ 41.12%
Vs 2021
Ranked in the World
#91
49.6%
Ranked in the World
#105
Moldova
Inflation Rate
28.48%
↑ 458.43%
Vs 2021
Ranked in the World
#11
32.1%
Ranked in the World
#142
Mongolia
Inflation Rate
14.83%
↑ 108.58%
Vs 2021
Ranked in the World
#30
Ranked in the World
#90
Montenegro
Inflation Rate
12.76%
↑ 431.67%
Vs 2021
Ranked in the World
#37
83.27%
Ranked in the World
#37
Morocco
Inflation Rate
6.2%
↑ 342.86%
Vs 2021
Ranked in the World
#127
77.9%
Ranked in the World
#49
The inflation rate in Morocco is 6.2%, ranking the country one hundred twenty-seventh in terms of the highest inflation rate in the world. Morocco’s inflation rate has risen steadily since 2021, jumping by 342.86%. Factors such as rising food prices and increased taxes on fuel and other commodities are being blamed for this rapid increase. Moreover, local analysts suggest that Morocco's persistent economic instability has also contributed to this trend, with citizens bearing the brunt of these hardships through rising costs of living.
Mozambique
Inflation Rate
11.26%
↑ 97.89%
Vs 2021
Ranked in the World
#52
Ranked in the World
#23
Myanmar
Inflation Rate
16.16%
↑ 343.96%
Vs 2021
Ranked in the World
#27
62.5%
Ranked in the World
#74
Namibia
Inflation Rate
6.4%
↑ 76.8%
Vs 2021
Ranked in the World
#121
Ranked in the World
#52
Nauru
Inflation Rate
2%
↑ 66.67%
Vs 2021
Ranked in the World
#179
Nepal
Inflation Rate
6.26%
↑ 73.89%
Vs 2021
Ranked in the World
#125
40.5%
Ranked in the World
#126
Netherlands
Inflation Rate
11.98%
↑ 323.32%
Vs 2021
Ranked in the World
#45
52.4%
Ranked in the World
#97
New Zealand
Inflation Rate
6.28%
↑ 59.39%
Vs 2021
Ranked in the World
#124
30.1%
Ranked in the World
#144
Nicaragua
Inflation Rate
9.94%
↑ 102.03%
Vs 2021
Ranked in the World
#58
64.8%
Ranked in the World
#68
Niger
Inflation Rate
4.51%
↑ 17.45%
Vs 2021
Ranked in the World
#155
50.9%
Ranked in the World
#103
Nigeria
Inflation Rate
18.91%
↑ 11.56%
Vs 2021
Ranked in the World
#18
Ranked in the World
#131
Norway
Inflation Rate
4.7%
↑ 35.06%
Vs 2021
Ranked in the World
#149
43.2%
Ranked in the World
#120
Oman
Inflation Rate
3.11%
↑ 100.65%
Vs 2021
Ranked in the World
#172
67.7%
Ranked in the World
#65
Pakistan
Inflation Rate
12.15%
↑ 36.52%
Vs 2021
Ranked in the World
#43
Ranked in the World
#35
The inflation rate in Pakistan is 12.15%, ranking the country forty-third in terms of the highest inflation rate in the world. Pakistan’s inflation rate has been on a steady upward trajectory since 2021, rising by 36.52% over the course of the year. This is having significant impacts on businesses and households alike as they struggle to keep up with prices that are increasing much faster than wages and salaries. The current inflation rate is straining household budgets, forcing people to make cuts in other areas or take on more debt just to maintain their standard of living. It is also putting tremendous pressure on businesses as they battle to remain competitive while trying to fend off rising input costs associated with the higher inflation rate. The government has yet to implement any effective policy measures that could help alleviate the burden felt by citizens across the country due to this high inflation rate.
Palau
Inflation Rate
12.2%
↑ 2611.11%
Vs 2021
Ranked in the World
#42
Panama
Inflation Rate
3.94%
↑ 141.72%
Vs 2021
Ranked in the World
#162
63.66%
Ranked in the World
#69
Papua New Guinea
Inflation Rate
6.6%
↑ 46.99%
Vs 2021
Ranked in the World
#113
51.5%
Ranked in the World
#100
Paraguay
Inflation Rate
9.48%
↑ 97.91%
Vs 2021
Ranked in the World
#65
34.6%
Ranked in the World
#139
People's Republic of China
Inflation Rate
2.17%
↑ 155.29%
Vs 2021
Ranked in the World
#178
76.9%
Ranked in the World
#51
Peru
Inflation Rate
7.46%
↑ 87.44%
Vs 2021
Ranked in the World
#99
Ranked in the World
#138
Philippines
Inflation Rate
5.32%
↑ 35.37%
Vs 2021
Ranked in the World
#138
60.4%
Ranked in the World
#78
Poland
Inflation Rate
13.81%
↑ 169.73%
Vs 2021
Ranked in the World
#34
53.8%
Ranked in the World
#95
Portugal
Inflation Rate
7.9%
↑ 740.43%
Vs 2021
Ranked in the World
#94
Ranked in the World
#12
Puerto Rico
Inflation Rate
4.39%
↑ 82.16%
Vs 2021
Ranked in the World
#157
Qatar
Inflation Rate
4.48%
↑ 99.11%
Vs 2021
Ranked in the World
#156
46.9%
Ranked in the World
#109
Republic of Macedonia
Inflation Rate
10.61%
↑ 228.48%
Vs 2021
Ranked in the World
#55
Republic of the Congo
Inflation Rate
3.5%
↑ 77.66%
Vs 2021
Ranked in the World
#168
Ranked in the World
#33
Romania
Inflation Rate
13.34%
↑ 164.16%
Vs 2021
Ranked in the World
#36
48.8%
Ranked in the World
#107
Russia
Inflation Rate
13.77%
↑ 105.83%
Vs 2021
Ranked in the World
#35
18.2%
Ranked in the World
#158
Rwanda
Inflation Rate
9.5%
↑ 1058.54%
Vs 2021
Ranked in the World
#64
66.7%
Ranked in the World
#66
San Marino
Inflation Rate
6.88%
↑ 230.77%
Vs 2021
Ranked in the World
#110
São Tomé and Príncipe
Inflation Rate
15.05%
↑ 84.89%
Vs 2021
Ranked in the World
#28
Ranked in the World
#30
Saudi Arabia
Inflation Rate
2.7%
↓ 11.76%
Vs 2021
Ranked in the World
#175
Ranked in the World
#145
Senegal
Inflation Rate
7.5%
↑ 244.04%
Vs 2021
Ranked in the World
#98
Ranked in the World
#59
Serbia
Inflation Rate
11.46%
↑ 180.2%
Vs 2021
Ranked in the World
#49
56.5%
Ranked in the World
#88
Seychelles
Inflation Rate
4.11%
↓ 57.93%
Vs 2021
Ranked in the World
#160
Ranked in the World
#57
Sierra Leone
Inflation Rate
25.91%
↑ 118.28%
Vs 2021
Ranked in the World
#14
Ranked in the World
#54
Singapore
Inflation Rate
5.54%
↑ 139.83%
Vs 2021
Ranked in the World
#134
Ranked in the World
#7
Slovakia
Inflation Rate
11.94%
↑ 323.4%
Vs 2021
Ranked in the World
#46
63.1%
Ranked in the World
#71
Slovenia
Inflation Rate
8.92%
↑ 367.02%
Vs 2021
Ranked in the World
#74
74.7%
Ranked in the World
#55
Solomon Islands
Inflation Rate
3.74%
↓ 3500%
Vs 2021
Ranked in the World
#165
Somalia
Inflation Rate
9%
↑ 94.81%
Vs 2021
Ranked in the World
#73
South Africa
Inflation Rate
6.74%
↑ 47.81%
Vs 2021
Ranked in the World
#111
69.9%
Ranked in the World
#62
South Sudan
Inflation Rate
17.6%
↓ 41.78%
Vs 2021
Ranked in the World
#21
Spain
Inflation Rate
8.83%
↑ 185.76%
Vs 2021
Ranked in the World
#76
Ranked in the World
#16
Sri Lanka
Inflation Rate
48.19%
↑ 708.56%
Vs 2021
Ranked in the World
#6
Ranked in the World
#21
Sudan
Inflation Rate
154.91%
↓ 56.86%
Vs 2021
Ranked in the World
#3
Ranked in the World
#4
Suriname
Inflation Rate
47.56%
↓ 19.55%
Vs 2021
Ranked in the World
#7
Ranked in the World
#13
Sweden
Inflation Rate
7.24%
↑ 173.21%
Vs 2021
Ranked in the World
#103
36.7%
Ranked in the World
#135
Switzerland
Inflation Rate
3.06%
↑ 427.59%
Vs 2021
Ranked in the World
#174
41.4%
Ranked in the World
#124
Taiwan
Inflation Rate
3.1%
↑ 57.36%
Vs 2021
Ranked in the World
#173
28.2%
Ranked in the World
#147
Tajikistan
Inflation Rate
8.25%
↓ 8.03%
Vs 2021
Ranked in the World
#87
53.67%
Ranked in the World
#96
Tanzania
Inflation Rate
3.96%
↑ 7.32%
Vs 2021
Ranked in the World
#161
37.3%
Ranked in the World
#130
Thailand
Inflation Rate
6.33%
↑ 414.63%
Vs 2021
Ranked in the World
#123
59.61%
Ranked in the World
#81
The Bahamas
Inflation Rate
5.66%
↑ 94.5%
Vs 2021
Ranked in the World
#132
95.6%
Ranked in the World
#25
The Gambia
Inflation Rate
11.31%
↑ 53.46%
Vs 2021
Ranked in the World
#51
82.9%
Ranked in the World
#38
Togo
Inflation Rate
5.59%
↑ 29.4%
Vs 2021
Ranked in the World
#133
Ranked in the World
#76
Trinidad and Tobago
Inflation Rate
5.05%
↑ 236.67%
Vs 2021
Ranked in the World
#144
83.3%
Ranked in the World
#36
Tunisia
Inflation Rate
8.08%
↑ 41.51%
Vs 2021
Ranked in the World
#89
Ranked in the World
#44
Turkey
Inflation Rate
73.13%
↑ 273.11%
Vs 2021
Ranked in the World
#4
Ranked in the World
#121
Turkmenistan
Inflation Rate
17.5%
↑ 17.06%
Vs 2021
Ranked in the World
#22
Ranked in the World
#162
Uganda
Inflation Rate
6.44%
↑ 191.4%
Vs 2021
Ranked in the World
#119
51.7%
Ranked in the World
#99
Ukraine
Inflation Rate
20.55%
↑ 119.55%
Vs 2021
Ranked in the World
#17
48.9%
Ranked in the World
#106
United Arab Emirates
Inflation Rate
5.22%
↑ 2800%
Vs 2021
Ranked in the World
#141
38.3%
Ranked in the World
#128
United Kingdom
Inflation Rate
9.12%
↑ 252.12%
Vs 2021
Ranked in the World
#69
97.4%
Ranked in the World
#24
United States of America
Inflation Rate
8.05%
↑ 71.64%
Vs 2021
Ranked in the World
#90
Ranked in the World
#11
Uruguay
Inflation Rate
9.11%
↑ 17.55%
Vs 2021
Ranked in the World
#70
71.5%
Ranked in the World
#61
Uzbekistan
Inflation Rate
11.15%
↑ 2.76%
Vs 2021
Ranked in the World
#54
Ranked in the World
#129
Vanuatu
Inflation Rate
4.58%
↑ 95.73%
Vs 2021
Ranked in the World
#152
Venezuela
Inflation Rate
210%
↓ 86.78%
Vs 2021
Ranked in the World
#2
Ranked in the World
#2
Vietnam
Inflation Rate
3.76%
↑ 105.46%
Vs 2021
Ranked in the World
#164
39.6%
Ranked in the World
#127
Yemen
Inflation Rate
43.85%
↓ 4.05%
Vs 2021
Ranked in the World
#8
63.1%
Ranked in the World
#72
The inflation rate in Yemen is 43.85%, ranking the country eighth in terms of the highest inflation rate in the world. While Yemen’s inflation rate is one of the highest in the world, it decreased by 4.05% since 2021, showing a slight improvement in economic conditions. Consequently, this high inflation rate leads to more expensive essential goods such as food and fuel for civilians in Yemen which will only exacerbate existing poverty levels. Despite some progress in terms of decreasing the rate of inflation, Yemen remains one of the most economically unstable countries in the world.
Zambia
Inflation Rate
12.53%
↓ 43.1%
Vs 2021
Ranked in the World
#39
Ranked in the World
#14
Zimbabwe
Inflation Rate
284.94%
↑ 189.13%
Vs 2021
Ranked in the World
#1
77.2%
Ranked in the World
#50
FAQs
Which country has the highest inflation rate ?
Zimbabwe is the country with the highest inflation, with an inflation rate of 284.94%.
Which country has the lowest inflation rate ?
The place with the lowest inflation in the world is Hong Kong, with an inflation rate of 1.9%.
What are the top 10 countries by inflation rate ?
The top 10 countries by inflation rate are :
1. Zimbabwe – 284.94%
2. Venezuela – 210%
3. Sudan – 154.91%
4. Turkey – 73.13%
5. Argentina – 72.37%
6. Sri Lanka – 48.19%
7. Suriname – 47.56%
8. Yemen – 43.85%
9. Iran – 39.99%
10. Ethiopia – 33.64%
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