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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.

CountryInflation Rate, Year-Over-YearDate
🇿🇼 Zimbabwe269.0%Oct 2022
🇱🇧 Lebanon162.0%Sep 2022
🇻🇪 Venezuela156.0%Oct 2022
🇸🇾 Syria139.0%Aug 2022
🇸🇩 Sudan103.0%Oct 2022
🇦🇷 Argentina88.0%Oct 2022
🇹🇷 Turkey85.5%Oct 2022
🇱🇰 Sri Lanka66.0%Oct 2022
🇮🇷 Iran52.2%Aug 2022
🇸🇷 Suriname41.4%Sep 2022
🇬🇭 Ghana40.4%Oct 2022
🇨🇺 Cuba37.2%Sep 2022
🇱🇦 Laos36.8%Oct 2022
🇲🇩 Moldova34.6%Oct 2022
🇪🇹 Ethiopia31.7%Oct 2022
🇷🇼 Rwanda31.0%Oct 2022
🇭🇹 Haiti30.5%Jul 2022
🇸🇱 Sierra Leone29.1%Sep 2022
🇵🇰 Pakistan26.6%Oct 2022
🇺🇦 Ukraine26.6%Oct 2022
🇲🇼 Malawi25.9%Sep 2022
🇱🇹 Lithuania23.6%Oct 2022
🇪🇪 Estonia22.5%Oct 2022
🇧🇮 Burundi22.1%Oct 2022
🇸🇹 Sao Tome and Principe21.9%Sep 2022
🇱🇻 Latvia21.8%Oct 2022
🇭🇺 Hungary21.1%Oct 2022
🇳🇬 Nigeria21.1%Oct 2022
🇲🇰 Macedonia19.8%Oct 2022
🇲🇲 Myanmar19.4%Jun 2022
🇰🇿 Kazakhstan18.8%Oct 2022
🇵🇱 Poland17.9%Oct 2022
🇧🇬 Bulgaria17.6%Oct 2022
🇹🇲 Turkmenistan17.5%Dec 2021
🇧🇦 Bosnia and Herzegovina17.3%Sep 2022
🇲🇪 Montenegro16.8%Oct 2022
🇦🇴 Angola16.7%Oct 2022
🇧🇫 Burkina Faso16.5%Sep 2022
🇪🇬 Egypt16.2%Oct 2022
🇰🇲 Comoros15.9%Sep 2022
🇰🇬 Kyrgyzstan15.4%Oct 2022
🇷🇴 Romania15.3%Oct 2022
🇧🇾 Belarus15.2%Oct 2022
🇨🇿 Czech Republic15.1%Oct 2022
🇷🇸 Serbia15.0%Oct 2022
🇸🇰 Slovakia14.9%Oct 2022
🇲🇳 Mongolia14.5%Oct 2022
🇳🇱 Netherlands14.3%Oct 2022
🇦🇿 Azerbaijan13.7%Oct 2022
🇦🇫 Afghanistan13.6%Sep 2022
🇬🇲 Gambia13.3%Sep 2022
🇭🇷 Croatia13.2%Oct 2022
🇧🇼 Botswana13.1%Oct 2022
🇸🇳 Senegal13.0%Oct 2022
🇨🇱 Chile12.8%Oct 2022
🇽🇰 Kosovo12.7%Oct 2022
🇷🇺 Russia12.6%Oct 2022
🇬🇳 Guinea12.4%Jul 2022
🇧🇪 Belgium12.3%Oct 2022
🇨🇴 Colombia12.2%Oct 2022
🇺🇿 Uzbekistan12.2%Oct 2022
🇨🇬 Congo12.2%Oct 2022
🇳🇮 Nicaragua12.2%Oct 2022
🇰🇾 Cayman Islands12.1%Jun 2022
🇲🇺 Mauritius11.9%Oct 2022
🇲🇿 Mozambique11.8%Oct 2022
🇮🇹 Italy11.8%Oct 2022
🇲🇱 Mali11.3%Sep 2022
🇲🇷 Mauritania11.3%Sep 2022
🇬🇧 United Kingdom11.1%Oct 2022
🇦🇹 Austria11.0%Oct 2022
🇸🇪 Sweden10.9%Oct 2022
🇺🇬 Uganda10.7%Oct 2022
🇬🇪 Georgia10.6%Oct 2022
🇩🇪 Germany10.4%Oct 2022
🇭🇳 Honduras10.2%Oct 2022
🇩🇰 Denmark10.1%Oct 2022
🇵🇹 Portugal10.1%Oct 2022
🇯🇲 Jamaica9.9%Oct 2022
🇸🇮 Slovenia9.9%Oct 2022
🇬🇹 Guatemala9.7%Oct 2022
🇿🇲 Zambia9.7%Oct 2022
🇰🇪 Kenya9.6%Oct 2022
🇦🇲 Armenia9.5%Oct 2022
🇮🇸 Iceland9.4%Oct 2022
🇲🇬 Madagascar9.3%Aug 2022
🇮🇪 Ireland9.2%Oct 2022
🇱🇸 Lesotho9.2%Sep 2022
🇹🇳 Tunisia9.2%Oct 2022
🇬🇷 Greece9.1%Oct 2022
🇺🇾 Uruguay9.1%Oct 2022
🇨🇷 Costa Rica9.0%Oct 2022
🇧🇩 Bangladesh8.9%Oct 2022
🇨🇾 Cyprus8.8%Oct 2022
🇫🇴 Faroe Islands8.8%Sep 2022
🇩🇿 Algeria8.7%Sep 2022
🇳🇵 Nepal8.6%Sep 2022
🇸🇧 Solomon Islands8.5%Aug 2022
🇲🇽 Mexico8.4%Oct 2022
🇬🇼 Guinea Bissau8.4%Sep 2022
🇦🇱 Albania8.3%Oct 2022
🇧🇧 Barbados8.3%Aug 2022
🇫🇮 Finland8.3%Oct 2022
🇲🇦 Morocco8.3%Sep 2022
🇵🇪 Peru8.3%Oct 2022
🇩🇴 Dominican Republic8.2%Oct 2022
🇨🇻 Cape Verde8.2%Oct 2022
🇵🇾 Paraguay8.1%Oct 2022
🇹🇱 East Timor7.9%Sep 2022
🇹🇬 Togo7.9%Sep 2022
🇵🇭 Philippines7.7%Oct 2022
🇺🇸 U.S.7.7%Oct 2022
🇨🇲 Cameroon7.6%Sep 2022
🇳🇴 Norway7.5%Oct 2022
🇸🇬 Singapore7.5%Sep 2022
🇿🇦 South Africa7.5%Sep 2022
🇸🇻 El Salvador7.5%Oct 2022
🇲🇹 Malta7.4%Oct 2022
🇦🇺 Australia7.3%Sep 2022
🇪🇸 Spain7.3%Oct 2022
🇹🇩 Chad7.2%Sep 2022
🇳🇿 New Zealand7.2%Sep 2022
🇧🇿 Belize7.1%Sep 2022
🇳🇦 Namibia7.1%Oct 2022
🇦🇼 Aruba7.0%Sep 2022
🇨🇦 Canada6.9%Oct 2022
🇱🇺 Luxembourg6.9%Oct 2022
🇸🇴 Somalia6.9%Oct 2022
🇮🇳 India6.8%Oct 2022
🇦🇪 United Arab Emirates6.8%Jun 2022
🇬🇾 Guyana6.5%Sep 2022
🇱🇷 Liberia6.5%Jul 2022
🇧🇷 Brazil6.5%Oct 2022
🇧🇸 Bahamas6.3%Aug 2022
🇨🇮 Ivory Coast6.3%Sep 2022
🇹🇹 Trinidad and Tobago6.3%Aug 2022
🇫🇷 France6.2%Oct 2022
🇩🇯 Djibouti6.1%Sep 2022
🇵🇷 Puerto Rico6.1%Sep 2022
🇧🇹 Bhutan6.1%Sep 2022
🇧🇹 Qatar6.0%Sep 2022
🇹🇭 Thailand6.0%Oct 2022
🇸🇿 Swaziland5.8%Aug 2022
🇮🇩 Indonesia5.7%Oct 2022
🇰🇷 South Korea5.7%Oct 2022
🇹🇯 Tajikistan5.7%Sep 2022
🇵🇬 Papua New Guinea5.5%Jun 2022
🇰🇭 Cambodia5.4%Jul 2022
🇮🇶 Iraq5.3%Sep 2022
🇯🇴 Jordan5.2%Oct 2022
🇫🇯 Fiji5.1%Sep 2022
🇮🇱 Israel5.1%Oct 2022
🇳🇨 New Caledonia5.0%Sep 2022
🇹🇿 Tanzania4.9%Oct 2022
🇧🇲 Bermuda4.5%Jul 2022
🇪🇷 Eritrea4.5%Dec 2021
🇲🇾 Malaysia4.5%Sep 2022
🇭🇰 Hong Kong4.4%Sep 2022
🇵🇸 Palestine4.4%Oct 2022
🇧🇳 Brunei4.3%Sep 2022
🇱🇾 Libya4.3%Sep 2022
🇻🇳 Vietnam4.3%Oct 2022
🇪🇨 Ecuador4.0%Oct 2022
🇧🇭 Bahrain4.0%Sep 2022
🇯🇵 Japan3.7%Oct 2022
🇰🇼 Kuwait3.2%Sep 2022
🇳🇪 Niger3.2%Sep 2022
🇲🇻 Maldives3.1%Sep 2022
🇬🇦 Gabon3.0%Jul 2022
🇱🇮 Liechtenstein3.0%Oct 2022
🇸🇦 Saudi Arabia3.0%Oct 2022
🇨🇭 Switzerland3.0%Oct 2022
🇸🇨 Seychelles2.9%Oct 2022
🇬🇶 Equatorial Guinea2.9%Dec 2021
🇧🇴 Bolivia2.9%Oct 2022
🇹🇼 Taiwan2.7%Oct 2022
🇨🇫 Central African Republic2.7%Dec 2021
🇻🇺 Vanuatu2.7%Mar 2022
🇴🇲 Oman2.4%Sep 2022
🇧🇯 Benin2.1%Oct 2022
🇨🇳 China2.1%Oct 2022
🇵🇦 Panama1.9%Sep 2022
🇲🇴 Macau1.1%Sep 2022
🇸🇸 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 prices—made up of crude oil, natural gas, coal, and propane—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.

“The world is in the midst of the first truly global energy crisis, with impacts that will be felt for years to come”.

-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.

It’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.

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Demographics

The Smallest Gender Wage Gaps in OECD Countries

Which OECD countries have the smallest gender wage gaps? We look at the 10 countries with gaps lower than the average.

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Chart showing the OECD countries with the 10 smallest gender pay gaps

The Smallest Gender Pay Gaps in OECD Countries

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Among the 38 member countries in the Organization for Economic Cooperation and Development (OECD), several have made significant strides in addressing income inequality between men and women.

In this graphic we’ve ranked the OECD countries with the 10 smallest gender pay gaps, using the latest data from the OECD for 2022.

The gender pay gap is calculated as the difference between median full-time earnings for men and women divided by the median full-time earnings of men.

Which Countries Have the Smallest Gender Pay Gaps?

Luxembourg’s gender pay gap is the lowest among OECD members at only 0.4%—well below the OECD average of 11.6%.

RankCountryPercentage Difference in Men's & Women's Full-time Earnings
1🇱🇺 Luxembourg0.4%
2🇧🇪 Belgium1.1%
3🇨🇷 Costa Rica1.4%
4🇨🇴 Colombia1.9%
5🇮🇪 Ireland2.0%
6🇭🇷 Croatia3.2%
7🇮🇹 Italy3.3%
8🇳🇴 Norway4.5%
9🇩🇰 Denmark5.8%
10🇵🇹 Portugal6.1%
OECD Average11.6%

Notably, eight of the top 10 countries with the smallest gender pay gaps are located in Europe, as labor equality laws designed to target gender differences have begun to pay off.

The two other countries that made the list were Costa Rica (1.4%) and Colombia (1.9%), which came in third and fourth place, respectively.

How Did Luxembourg (Nearly) Eliminate its Gender Wage Gap?

Luxembourg’s virtually-non-existent gender wage gap in 2020 can be traced back to its diligent efforts to prioritize equal pay. Since 2016, firms that have not complied with the Labor Code’s equal pay laws have been subjected to penalizing fines ranging from €251 to €25,000.

Higher female education rates also contribute to the diminishing pay gap, with Luxembourg tied for first in the educational attainment rankings of the World Economic Forum’s Global Gender Gap Index Report for 2023.

See More Graphics about Demographics and Money

While these 10 countries are well below the OECD’s average gender pay gap of 11.6%, many OECD member countries including the U.S. are significantly above the average. To see the full list of the top 10 OECD countries with the largest gender pay gaps, check out this visualization.

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