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Inflation Rate By Country

Inflation Rate By Country

The Global Pulse on Inflation

Understanding inflation is paramount to grasping the economic health and trajectory of over 200 nations worldwide. This macroeconomic indicator provides a snapshot of the rate at which the general level of prices for goods and services is rising, and in turn, how purchasing power is subsequently being eroded. While a measure of inflation for all countries presents a vast landscape, this article focuses primarily on the inflationary status in the United States, benchmarking it against trends noticed in international territories.

Contrary to commonly held beliefs, high inflation rates are not a universal phenomenon. The current inflation rates paint a diverse global picture. For instance, countries like Venezuela and Zimbabwe have experienced hyperinflation over the last year, with the former illustrating an alarming high year-over-year change of 400%. Other nations, like Japan and Switzerland, reigning in with relatively low inflation rates, show a demure, controlled trend, standing at 2.7% and 2.4% respectively.

Key findings from the data include:

  • As of now, Venezuela tops the list as the country with the highest inflation rate of 400%, followed by Zimbabwe at 172.2% and Argentina at 98.6%.
  • The United States' inflation rate is currently at 4.5%, considerably less than hyperinflation-affected countries but higher than many developed economies.
  • Japan and Switzerland exhibit some of the world's lowest inflation rates at 2.7% and 2.4% respectively, reflecting their strong, stable economies.
  • Countries in economic distress, such as Afghanistan, still manage to maintain somewhat restrained inflation rates, reported at 5.6%, revealing the multifaceted nature of inflation and its disconnection from other economic factors.

Understanding the differences and implications can guide macroeconomic strategies, influence investment decisions, and inform monetary policy shifts worldwide.

Countries With Highest Inflation Rate

The inflation rate is a measure of the rate of increase in prices over a given period. Several countries currently experience particularly high rates, which can severely affect their economies and the standard of living for their residents. The ten countries with the highest inflation rates are Venezuela, Zimbabwe, Argentina, Sudan, Turkey, Ghana, Haiti, Suriname, Iran, and Sierra Leone.

Venezuela tops this list with an overwhelming inflation rate of 400.0%. Zimbabwe follows with an inflation rate of 172.2%, while Argentina has a rate of 98.6%. Further down the list, we find Sudan with an inflation rate of 71.6%, and Turkey, which has been hit with an inflation rate of 50.6%.

Additionally, Ghana suffers from an inflation rate of 45.4%, slightly higher than Haiti's 44.5% and Suriname's 42.7%. Iran sits at 42.5%, and lastly, Sierra Leone brings us to the end of the list with its inflation rate of 37.8%.

10 Countries with the Highest Inflation Rates:

  1. Venezuela - 400.0%
  2. Zimbabwe - 172.2%
  3. Argentina - 98.6%
  4. Sudan - 71.6%
  5. Turkey - 50.6%
  6. Ghana - 45.4%
  7. Haiti - 44.5%
  8. Suriname - 42.7%
  9. Iran - 42.5%
  10. Sierra Leone - 37.8%

Countries With Lowest Inflation Rate

When we look around the world, several countries have managed to maintain impressively low inflation rates, ensuring price stability in their economies. 

Leading this list is Burkina Faso, which holds the lowest inflation rate at 1.5%. Coming next is Oman, having a slightly higher inflation rate at 1.9%. 

China and Brunei also boast low inflation rates, each with an inflation rate of 2.0%. Panama, Marshall Islands, and Bahrain follow closely behind, each with an inflation rate of 2.2%. 

Ranking eighth in low inflation rates is Saint Kitts and Nevis having an inflation rate of 2.3%, while Switzerland, known for its economic stability, records an inflation rate of 2.4%. Finally, Ecuador rounds out this list with an inflation rate of 2.5%.

The ten countries with the lowest inflation rates:

  1. Burkina Faso - 1.5%
  2. Oman - 1.9%
  3. China - 2.0%
  4. Brunei - 2.0%
  5. Panama - 2.2%
  6. Marshall Islands - 2.2%
  7. Bahrain - 2.2%
  8. Saint Kitts and Nevis - 2.3%
  9. Switzerland - 2.4%
  10. Ecuador - 2.5%

By Country

Full Data Set

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