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Maps: Which countries have the highest inflation rate?

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Inflation will rise almost everywhere in 2022.

Geopolitical tensions drive up energy costs, while supply-side disruptions distort consumer prices as well. The end result is that nearly half of the countries around the world are experiencing inflation rates of double digits or higher.

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

Double-digit inflation in 2022

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

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

* Inflation rates based on the latest available data.

With mounting price pressures, 33 central banks Tracked by the Bank for International Settlements (of a total of 38) interest rate hikes this year. These coordinated price hikes are The largest in two decadeswhich marked the end of the era of ultra-low interest rates.

Going into 2023, central banks can continue this hawkish shift as inflation remains significantly high.

The role of energy prices

Spurred on by the war in Ukraine, energy inflation has pushed up the cost of living around the world.

Since October 2020, the global energy price index – made up of crude oil, natural gasCoal and propane – increased dramatically.

Compared to the 2021 average, natural gas prices in Europe have increased Six times. Real household electricity prices in Europe are up 78% and gas prices are up even more, by 144% compared to 20-year averages.

Amid global competition for LNG supplies, price pressures are likely to remain high, although they have eased recently. Other harmful consequences of an energy shock include price volatility, economic stress, and energy shortages.

โ€œThe world is in the midst of its first true global energy crisis, with effects that will be felt for years to come.โ€

Fatih Birol, Executive Director of the International Energy Agency

Double-digit inflation: Will it last?

If history is an example, dressage Rising prices It could take at least a few years yet.

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

If global inflation rates, which are hovering around 9.8% In 2022, if that course is followed, it will take until at least 2025 for levels to reach the 2% target.

It should be noted that inflation has also been very volatile during this decade. Consider how inflation fell in much of the rich world by 1981 but rose again in 1987 amid rising energy prices. Federal Reserve Chairman Jerome Powell talked about the volatility of inflation at their meeting in November, noting that high inflation has a chance after a period of low inflation.

While the Fed expects the US inflation rate to fall closer to its 2% target by 2024, the road ahead could get bumpier between now and then.

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