International Inflation Rates

2025-01-05

World Inflation
Global Inflation
International Inflation
Consumer Price Index International
World Consumer Price Index
Global Consumer Price Indexes
CPI

In 2024, global inflation exhibited a downward trend, with rates declining from the peaks observed in 2022 and 2023. This moderation was largely attributed to the resolution of supply chain disruptions and the impact of restrictive monetary policies implemented by central banks worldwide. The International Monetary Fund (IMF) reported that global inflation decreased from 6.7% in 2023 to 5.8% in 2024, with projections indicating a further decline to 4.3% in 2025. The cost of living and inflation is highly individualized. Everyone experiences it differently depending what "baskets" they spend their money on. The latest international consumer price index (CPI) inflation rates for 225 countries / states, updated daily.

In 2024, global inflation exhibited a downward trend, with rates declining from the peaks observed in 2022 and 2023. This moderation was largely attributed to the resolution of supply chain disruptions and the impact of restrictive monetary policies implemented by central banks worldwide. The International Monetary Fund (IMF) reported that global inflation decreased from 6.7% in 2023 to 5.8% in 2024, with projections indicating a further decline to 4.3% in 2025.

Despite this overall improvement, regional disparities persisted. Advanced economies experienced a more pronounced reduction in inflation rates, while emerging markets continued to grapple with higher levels. For instance, the eurozone saw inflation rates aligning closer to the European Central Bank's (ECB) target of 2% by late 2025. In contrast, countries like Turkey continued to face significant inflationary pressures, with rates remaining elevated throughout 2024.

In the United States, inflation showed signs of easing, allowing the Federal Reserve to consider further interest rate cuts in 2025, contingent upon continued progress in inflation reduction. Similarly, the United Kingdom experienced a gradual decline in inflation, with rates decreasing from 1.7% in September 2024 to 2.6% in December 2024.

China's inflation remained notably low, with rates hovering around 0.1% in December 2024. This persistent low inflation raised concerns about potential deflationary pressures, prompting discussions about the need for policy interventions to stimulate domestic demand.

In Japan, inflation rates increased to 2.9% in November 2024, influenced by rising import costs due to a weaker yen and optimistic wage growth projections. The Bank of Japan indicated a potential upward revision of its price forecasts, reflecting heightened attention to inflation risks.

Emerging economies such as Brazil and India continued to face higher inflation rates compared to their developed counterparts. Brazil's inflation rose from 4.42% in September 2024 to 4.87% in November 2024, while India's inflation, although showing a declining trend, remained elevated at 5.48% in November 2024.

Looking ahead to 2025, forecasts suggest a continuation of the disinflationary trend globally. The IMF projects global inflation to decline to 4.3% in 2025, with advanced economies expected to reach target rates around 2%. However, potential risks such as escalating geopolitical tensions and trade barriers could disrupt this trajectory, necessitating vigilant policy measures to sustain economic stability.

In conclusion, while 2024 witnessed a significant moderation in global inflation, the persistence of regional disparities and potential external shocks underscore the importance of tailored policy responses to address specific economic challenges in 2025.

In summary the latest inflation rate trends in the largest economies:

  • Australia: 2.8% in September 2024, down from 3.8% in June 2024, and 3.6% in March 2024.
  • Brazil: 4.83% in December 2024, down from 4.87% in November 2024, up from 4.76 in October 2024.
  • Canada: 1.9% in November 2024, down from 2% in October 2024, up from 1.6% in September 2024.
  • China: 0.1% in December 2024, down from 0.2% in November 2024, and 0.3% in October 2024.
  • France: 1.3% in December 2024, same as 1.3% in November 2024, up from 1.2% in October 2024.
  • Germany: 2.6% in December 2024, up from 2.2% in November 2024, and 2% in October 2024.
  • Hong Kong: 1.4% in November 2024, steady from 1.4% in October, down from 2.2% in September 2024.
  • India: 5.48% in November 2024, down from 6.21% in October 2024, and 5.49 in September 2024.
  • Indonesia: 1.57% in November 2024, up from 1.55% in November 2024, down from 1.71% in October 2024.
  • Italy: 1.3% in December 2024, down from 1.4% in November 2024, up from 0.9% in October 2024.
  • Japan: 2.9% in November 2024, up from 2.3% in October 2024, and 2.5% in September 2024.
  • Saudi Arabia: 2% in November 2024, up from 1.9% in October 2024, and 1.7% in September 2024.
  • Singapore: 1.6% in November 2024, up from 1.4% in October 2024, down from 2% in September 2024.
  • South Africa: 2.9% in November 2024, up from 2.8% in October 2024, down from 3.8% in September 2024.
  • South Korea: 1.9% in December 2024, up from 1.5% in November 2024, and 1.3% in October 2024.
  • Spain: 2.8% in December 2024, up from 2.4% in November 2024, and 1.8% in October 2024.
  • Taiwan: 2.1% in December 2024, up from 2.08% in November 2024, and 1.69% in October 2024.
  • Turkey: 44.38% in December 2024, down from 47.09% in November 2024, and 48.58% in October 2024.
  • United Arab Emirates: 3.01% in November 2024, up from 2.38% in October 2024, and 2.5% in September 2024.
  • United Kingdom: 2.6% in December 2024, up from 2.3% in October 2024, and 1.7% in September 2024.
  • United States: 2.9% in December 2024, up from 2.7% in November 2024, and 2.6% in October 2024.