Mapped: Which Countries Have the Highest Inflation?

mapped:-which-countries-have-the-highest-inflation?


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Mapped: Which Countries Have the Highest Inflation?

Mapped: Which Countries Have the Highest Inflation Rate?

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Inflation is surging nearly everywhere in 2022.

Geopolitical tensions are triggering high energy costs, while supply-side disruptions are also distorting consumer prices. The end result is that almost half of countries worldwide are seeing double-digit inflation rates or higher.

With new macroeconomic forces shaping the global economy, the above infographic shows countries with the highest inflation rates, using data from Trading Economics.

Double-Digit Inflation in 2022

As the table below shows, countless countries are navigating record-high levels of inflation. Some are even facing triple-digit inflation rates. Globally, Zimbabwe, Lebanon, and Venezuela have the highest rates in the world.

Country Inflation Rate, Year-Over-Year Date
๐Ÿ‡ฟ๐Ÿ‡ผ Zimbabwe 269.0% Oct 2022
๐Ÿ‡ฑ๐Ÿ‡ง Lebanon 162.0% Sep 2022
๐Ÿ‡ป๐Ÿ‡ช Venezuela 156.0% Oct 2022
๐Ÿ‡ธ๐Ÿ‡พ Syria 139.0% Aug 2022
๐Ÿ‡ธ๐Ÿ‡ฉ Sudan 103.0% Oct 2022
๐Ÿ‡ฆ๐Ÿ‡ท Argentina 88.0% Oct 2022
๐Ÿ‡น๐Ÿ‡ท Turkey 85.5% Oct 2022
๐Ÿ‡ฑ๐Ÿ‡ฐ Sri Lanka 66.0% Oct 2022
๐Ÿ‡ฎ๐Ÿ‡ท Iran 52.2% Aug 2022
๐Ÿ‡ธ๐Ÿ‡ท Suriname 41.4% Sep 2022
๐Ÿ‡ฌ๐Ÿ‡ญ Ghana 40.4% Oct 2022
๐Ÿ‡จ๐Ÿ‡บ Cuba 37.2% Sep 2022
๐Ÿ‡ฑ๐Ÿ‡ฆ Laos 36.8% Oct 2022
๐Ÿ‡ฒ๐Ÿ‡ฉ Moldova 34.6% Oct 2022
๐Ÿ‡ช๐Ÿ‡น Ethiopia 31.7% Oct 2022
๐Ÿ‡ท๐Ÿ‡ผ Rwanda 31.0% Oct 2022
๐Ÿ‡ญ๐Ÿ‡น Haiti 30.5% Jul 2022
๐Ÿ‡ธ๐Ÿ‡ฑ Sierra Leone 29.1% Sep 2022
๐Ÿ‡ต๐Ÿ‡ฐ Pakistan 26.6% Oct 2022
๐Ÿ‡บ๐Ÿ‡ฆ Ukraine 26.6% Oct 2022
๐Ÿ‡ฒ๐Ÿ‡ผ Malawi 25.9% Sep 2022
๐Ÿ‡ฑ๐Ÿ‡น Lithuania 23.6% Oct 2022
๐Ÿ‡ช๐Ÿ‡ช Estonia 22.5% Oct 2022
๐Ÿ‡ง๐Ÿ‡ฎ Burundi 22.1% Oct 2022
๐Ÿ‡ธ๐Ÿ‡น Sao Tome and Principe 21.9% Sep 2022
๐Ÿ‡ฑ๐Ÿ‡ป Latvia 21.8% Oct 2022
๐Ÿ‡ญ๐Ÿ‡บ Hungary 21.1% Oct 2022
๐Ÿ‡ณ๐Ÿ‡ฌ Nigeria 21.1% Oct 2022
๐Ÿ‡ฒ๐Ÿ‡ฐ Macedonia 19.8% Oct 2022
๐Ÿ‡ฒ๐Ÿ‡ฒ Myanmar 19.4% Jun 2022
๐Ÿ‡ฐ๐Ÿ‡ฟ Kazakhstan 18.8% Oct 2022
๐Ÿ‡ต๐Ÿ‡ฑ Poland 17.9% Oct 2022
๐Ÿ‡ง๐Ÿ‡ฌ Bulgaria 17.6% Oct 2022
๐Ÿ‡น๐Ÿ‡ฒ Turkmenistan 17.5% Dec 2021
๐Ÿ‡ง๐Ÿ‡ฆ Bosnia and Herzegovina 17.3% Sep 2022
๐Ÿ‡ฒ๐Ÿ‡ช Montenegro 16.8% Oct 2022
๐Ÿ‡ฆ๐Ÿ‡ด Angola 16.7% Oct 2022
๐Ÿ‡ง๐Ÿ‡ซ Burkina Faso 16.5% Sep 2022
๐Ÿ‡ช๐Ÿ‡ฌ Egypt 16.2% Oct 2022
๐Ÿ‡ฐ๐Ÿ‡ฒ Comoros 15.9% Sep 2022
๐Ÿ‡ฐ๐Ÿ‡ฌ Kyrgyzstan 15.4% Oct 2022
๐Ÿ‡ท๐Ÿ‡ด Romania 15.3% Oct 2022
๐Ÿ‡ง๐Ÿ‡พ Belarus 15.2% Oct 2022
๐Ÿ‡จ๐Ÿ‡ฟ Czech Republic 15.1% Oct 2022
๐Ÿ‡ท๐Ÿ‡ธ Serbia 15.0% Oct 2022
๐Ÿ‡ธ๐Ÿ‡ฐ Slovakia 14.9% Oct 2022
๐Ÿ‡ฒ๐Ÿ‡ณ Mongolia 14.5% Oct 2022
๐Ÿ‡ณ๐Ÿ‡ฑ Netherlands 14.3% Oct 2022
๐Ÿ‡ฆ๐Ÿ‡ฟ Azerbaijan 13.7% Oct 2022
๐Ÿ‡ฆ๐Ÿ‡ซ Afghanistan 13.6% Sep 2022
๐Ÿ‡ฌ๐Ÿ‡ฒ Gambia 13.3% Sep 2022
๐Ÿ‡ญ๐Ÿ‡ท Croatia 13.2% Oct 2022
๐Ÿ‡ง๐Ÿ‡ผ Botswana 13.1% Oct 2022
๐Ÿ‡ธ๐Ÿ‡ณ Senegal 13.0% Oct 2022
๐Ÿ‡จ๐Ÿ‡ฑ Chile 12.8% Oct 2022
๐Ÿ‡ฝ๐Ÿ‡ฐ Kosovo 12.7% Oct 2022
๐Ÿ‡ท๐Ÿ‡บ Russia 12.6% Oct 2022
๐Ÿ‡ฌ๐Ÿ‡ณ Guinea 12.4% Jul 2022
๐Ÿ‡ง๐Ÿ‡ช Belgium 12.3% Oct 2022
๐Ÿ‡จ๐Ÿ‡ด Colombia 12.2% Oct 2022
๐Ÿ‡บ๐Ÿ‡ฟ Uzbekistan 12.2% Oct 2022
๐Ÿ‡จ๐Ÿ‡ฌ Congo 12.2% Oct 2022
๐Ÿ‡ณ๐Ÿ‡ฎ Nicaragua 12.2% Oct 2022
๐Ÿ‡ฐ๐Ÿ‡พ Cayman Islands 12.1% Jun 2022
๐Ÿ‡ฒ๐Ÿ‡บ Mauritius 11.9% Oct 2022
๐Ÿ‡ฒ๐Ÿ‡ฟ Mozambique 11.8% Oct 2022
๐Ÿ‡ฎ๐Ÿ‡น Italy 11.8% Oct 2022
๐Ÿ‡ฒ๐Ÿ‡ฑ Mali 11.3% Sep 2022
๐Ÿ‡ฒ๐Ÿ‡ท Mauritania 11.3% Sep 2022
๐Ÿ‡ฌ๐Ÿ‡ง United Kingdom 11.1% Oct 2022
๐Ÿ‡ฆ๐Ÿ‡น Austria 11.0% Oct 2022
๐Ÿ‡ธ๐Ÿ‡ช Sweden 10.9% Oct 2022
๐Ÿ‡บ๐Ÿ‡ฌ Uganda 10.7% Oct 2022
๐Ÿ‡ฌ๐Ÿ‡ช Georgia 10.6% Oct 2022
๐Ÿ‡ฉ๐Ÿ‡ช Germany 10.4% Oct 2022
๐Ÿ‡ญ๐Ÿ‡ณ Honduras 10.2% Oct 2022
๐Ÿ‡ฉ๐Ÿ‡ฐ Denmark 10.1% Oct 2022
๐Ÿ‡ต๐Ÿ‡น Portugal 10.1% Oct 2022
๐Ÿ‡ฏ๐Ÿ‡ฒ Jamaica 9.9% Oct 2022
๐Ÿ‡ธ๐Ÿ‡ฎ Slovenia 9.9% Oct 2022
๐Ÿ‡ฌ๐Ÿ‡น Guatemala 9.7% Oct 2022
๐Ÿ‡ฟ๐Ÿ‡ฒ Zambia 9.7% Oct 2022
๐Ÿ‡ฐ๐Ÿ‡ช Kenya 9.6% Oct 2022
๐Ÿ‡ฆ๐Ÿ‡ฒ Armenia 9.5% Oct 2022
๐Ÿ‡ฎ๐Ÿ‡ธ Iceland 9.4% Oct 2022
๐Ÿ‡ฒ๐Ÿ‡ฌ Madagascar 9.3% Aug 2022
๐Ÿ‡ฎ๐Ÿ‡ช Ireland 9.2% Oct 2022
๐Ÿ‡ฑ๐Ÿ‡ธ Lesotho 9.2% Sep 2022
๐Ÿ‡น๐Ÿ‡ณ Tunisia 9.2% Oct 2022
๐Ÿ‡ฌ๐Ÿ‡ท Greece 9.1% Oct 2022
๐Ÿ‡บ๐Ÿ‡พ Uruguay 9.1% Oct 2022
๐Ÿ‡จ๐Ÿ‡ท Costa Rica 9.0% Oct 2022
๐Ÿ‡ง๐Ÿ‡ฉ Bangladesh 8.9% Oct 2022
๐Ÿ‡จ๐Ÿ‡พ Cyprus 8.8% Oct 2022
๐Ÿ‡ซ๐Ÿ‡ด Faroe Islands 8.8% Sep 2022
๐Ÿ‡ฉ๐Ÿ‡ฟ Algeria 8.7% Sep 2022
๐Ÿ‡ณ๐Ÿ‡ต Nepal 8.6% Sep 2022
๐Ÿ‡ธ๐Ÿ‡ง Solomon Islands 8.5% Aug 2022
๐Ÿ‡ฒ๐Ÿ‡ฝ Mexico 8.4% Oct 2022
๐Ÿ‡ฌ๐Ÿ‡ผ Guinea Bissau 8.4% Sep 2022
๐Ÿ‡ฆ๐Ÿ‡ฑ Albania 8.3% Oct 2022
๐Ÿ‡ง๐Ÿ‡ง Barbados 8.3% Aug 2022
๐Ÿ‡ซ๐Ÿ‡ฎ Finland 8.3% Oct 2022
๐Ÿ‡ฒ๐Ÿ‡ฆ Morocco 8.3% Sep 2022
๐Ÿ‡ต๐Ÿ‡ช Peru 8.3% Oct 2022
๐Ÿ‡ฉ๐Ÿ‡ด Dominican Republic 8.2% Oct 2022
๐Ÿ‡จ๐Ÿ‡ป Cape Verde 8.2% Oct 2022
๐Ÿ‡ต๐Ÿ‡พ Paraguay 8.1% Oct 2022
๐Ÿ‡น๐Ÿ‡ฑ East Timor 7.9% Sep 2022
๐Ÿ‡น๐Ÿ‡ฌ Togo 7.9% Sep 2022
๐Ÿ‡ต๐Ÿ‡ญ Philippines 7.7% Oct 2022
๐Ÿ‡บ๐Ÿ‡ธ U.S. 7.7% Oct 2022
๐Ÿ‡จ๐Ÿ‡ฒ Cameroon 7.6% Sep 2022
๐Ÿ‡ณ๐Ÿ‡ด Norway 7.5% Oct 2022
๐Ÿ‡ธ๐Ÿ‡ฌ Singapore 7.5% Sep 2022
๐Ÿ‡ฟ๐Ÿ‡ฆ South Africa 7.5% Sep 2022
๐Ÿ‡ธ๐Ÿ‡ป El Salvador 7.5% Oct 2022
๐Ÿ‡ฒ๐Ÿ‡น Malta 7.4% Oct 2022
๐Ÿ‡ฆ๐Ÿ‡บ Australia 7.3% Sep 2022
๐Ÿ‡ช๐Ÿ‡ธ Spain 7.3% Oct 2022
๐Ÿ‡น๐Ÿ‡ฉ Chad 7.2% Sep 2022
๐Ÿ‡ณ๐Ÿ‡ฟ New Zealand 7.2% Sep 2022
๐Ÿ‡ง๐Ÿ‡ฟ Belize 7.1% Sep 2022
๐Ÿ‡ณ๐Ÿ‡ฆ Namibia 7.1% Oct 2022
๐Ÿ‡ฆ๐Ÿ‡ผ Aruba 7.0% Sep 2022
๐Ÿ‡จ๐Ÿ‡ฆ Canada 6.9% Oct 2022
๐Ÿ‡ฑ๐Ÿ‡บ Luxembourg 6.9% Oct 2022
๐Ÿ‡ธ๐Ÿ‡ด Somalia 6.9% Oct 2022
๐Ÿ‡ฎ๐Ÿ‡ณ India 6.8% Oct 2022
๐Ÿ‡ฆ๐Ÿ‡ช United Arab Emirates 6.8% Jun 2022
๐Ÿ‡ฌ๐Ÿ‡พ Guyana 6.5% Sep 2022
๐Ÿ‡ฑ๐Ÿ‡ท Liberia 6.5% Jul 2022
๐Ÿ‡ง๐Ÿ‡ท Brazil 6.5% Oct 2022
๐Ÿ‡ง๐Ÿ‡ธ Bahamas 6.3% Aug 2022
๐Ÿ‡จ๐Ÿ‡ฎ Ivory Coast 6.3% Sep 2022
๐Ÿ‡น๐Ÿ‡น Trinidad and Tobago 6.3% Aug 2022
๐Ÿ‡ซ๐Ÿ‡ท France 6.2% Oct 2022
๐Ÿ‡ฉ๐Ÿ‡ฏ Djibouti 6.1% Sep 2022
๐Ÿ‡ต๐Ÿ‡ท Puerto Rico 6.1% Sep 2022
๐Ÿ‡ง๐Ÿ‡น Bhutan 6.1% Sep 2022
๐Ÿ‡ง๐Ÿ‡น Qatar 6.0% Sep 2022
๐Ÿ‡น๐Ÿ‡ญ Thailand 6.0% Oct 2022
๐Ÿ‡ธ๐Ÿ‡ฟ Swaziland 5.8% Aug 2022
๐Ÿ‡ฎ๐Ÿ‡ฉ Indonesia 5.7% Oct 2022
๐Ÿ‡ฐ๐Ÿ‡ท South Korea 5.7% Oct 2022
๐Ÿ‡น๐Ÿ‡ฏ Tajikistan 5.7% Sep 2022
๐Ÿ‡ต๐Ÿ‡ฌ Papua New Guinea 5.5% Jun 2022
๐Ÿ‡ฐ๐Ÿ‡ญ Cambodia 5.4% Jul 2022
๐Ÿ‡ฎ๐Ÿ‡ถ Iraq 5.3% Sep 2022
๐Ÿ‡ฏ๐Ÿ‡ด Jordan 5.2% Oct 2022
๐Ÿ‡ซ๐Ÿ‡ฏ Fiji 5.1% Sep 2022
๐Ÿ‡ฎ๐Ÿ‡ฑ Israel 5.1% Oct 2022
๐Ÿ‡ณ๐Ÿ‡จ New Caledonia 5.0% Sep 2022
๐Ÿ‡น๐Ÿ‡ฟ Tanzania 4.9% Oct 2022
๐Ÿ‡ง๐Ÿ‡ฒ Bermuda 4.5% Jul 2022
๐Ÿ‡ช๐Ÿ‡ท Eritrea 4.5% Dec 2021
๐Ÿ‡ฒ๐Ÿ‡พ Malaysia 4.5% Sep 2022
๐Ÿ‡ญ๐Ÿ‡ฐ Hong Kong 4.4% Sep 2022
๐Ÿ‡ต๐Ÿ‡ธ Palestine 4.4% Oct 2022
๐Ÿ‡ง๐Ÿ‡ณ Brunei 4.3% Sep 2022
๐Ÿ‡ฑ๐Ÿ‡พ Libya 4.3% Sep 2022
๐Ÿ‡ป๐Ÿ‡ณ Vietnam 4.3% Oct 2022
๐Ÿ‡ช๐Ÿ‡จ Ecuador 4.0% Oct 2022
๐Ÿ‡ง๐Ÿ‡ญ Bahrain 4.0% Sep 2022
๐Ÿ‡ฏ๐Ÿ‡ต Japan 3.7% Oct 2022
๐Ÿ‡ฐ๐Ÿ‡ผ Kuwait 3.2% Sep 2022
๐Ÿ‡ณ๐Ÿ‡ช Niger 3.2% Sep 2022
๐Ÿ‡ฒ๐Ÿ‡ป Maldives 3.1% Sep 2022
๐Ÿ‡ฌ๐Ÿ‡ฆ Gabon 3.0% Jul 2022
๐Ÿ‡ฑ๐Ÿ‡ฎ Liechtenstein 3.0% Oct 2022
๐Ÿ‡ธ๐Ÿ‡ฆ Saudi Arabia 3.0% Oct 2022
๐Ÿ‡จ๐Ÿ‡ญ Switzerland 3.0% Oct 2022
๐Ÿ‡ธ๐Ÿ‡จ Seychelles 2.9% Oct 2022
๐Ÿ‡ฌ๐Ÿ‡ถ Equatorial Guinea 2.9% Dec 2021
๐Ÿ‡ง๐Ÿ‡ด Bolivia 2.9% Oct 2022
๐Ÿ‡น๐Ÿ‡ผ Taiwan 2.7% Oct 2022
๐Ÿ‡จ๐Ÿ‡ซ Central African Republic 2.7% Dec 2021
๐Ÿ‡ป๐Ÿ‡บ Vanuatu 2.7% Mar 2022
๐Ÿ‡ด๐Ÿ‡ฒ Oman 2.4% Sep 2022
๐Ÿ‡ง๐Ÿ‡ฏ Benin 2.1% Oct 2022
๐Ÿ‡จ๐Ÿ‡ณ China 2.1% Oct 2022
๐Ÿ‡ต๐Ÿ‡ฆ Panama 1.9% Sep 2022
๐Ÿ‡ฒ๐Ÿ‡ด Macau 1.1% Sep 2022
๐Ÿ‡ธ๐Ÿ‡ธ South Sudan -2.5% Aug 2022

*Inflation rates based on the latest available data.

As price pressures mount, 33 central banks tracked by the Bank of International Settlements (out of a total of 38) have raised interest rates this year. These coordinated rate hikes are the largest in two decades, representing an end to an era of rock-bottom interest rates.

Going into 2023, central banks could continue this shift towards hawkish policies as inflation remains aggressively high.

The Role of Energy Prices

Driven by the war in Ukraine, energy inflation is pushing up the cost of living around the world.

Since October 2020, an index of global energy pricesโ€”made up of crude oil, natural gas, coal, and propaneโ€”has increased drastically.

Double-Digit Inflation

Compared to the 2021 average, natural gas prices in Europe are up sixfold. Real European household electricity prices are up 78% and gas prices have climbed even more, at 144% compared to 20-year averages.

Amid global competition for liquefied natural gas supplies, price pressures are likely to stay high, even though they have fallen recently. Other harmful consequences of the energy shock include price volatility, economic strain, and energy shortages.

โ€œThe world is in the midst of the first truly global energy crisis, with impacts that will be felt for years to comeโ€.

-Fatih Birol, executive director of the IEA

Double-Digit Inflation: Will it Last?

If history is an example, taming rising prices could take at least a few years yet.

Take the sky-high inflation of the 1980s. Italy, which managed to combat inflation faster than most countries, brought down inflation from 22% in 1980 to 4% in 1986.

If global inflation rates, which hover around 9.8% in 2022, were to follow this course, it would take at least until 2025 for levels to reach the 2% target.

Itโ€™s worth noting that inflation was also highly volatile over this decade. Consider how inflation fell across much of the rich world by 1981 but shot up again in 1987 amid higher energy prices. Federal Reserve chair Jerome Powell spoke to the volatility of inflation at their November meeting, indicating that high inflation has a chance of following a period of low inflation.

While the Federal Reserve projects U.S. inflation to fall closer to its 2% target by 2024, the road ahead could still get a lot bumpier between now and then.

The post Mapped: Which Countries Have the Highest Inflation? appeared first on Visual Capitalist.

Vito Califano

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