Latest International Inflation Rates in 2021

A Decade of Low Inflation

For most of the past decade the world economy’s problem, has been too little inflation, not too much.

Low inflation allows governments to borrow heavily and central banks buy up debt and is key to the success of economic policies and financial markets.

Inflation in advanced economies has been stubbornly low ever since the 2008 global financial crisis.

The COVID-19 pandemic hit the global economy and lock-downs caused a collapse in economic activity and consumer demand. This led to a sharp fall in oil demand and energy prices across the world. Central banks responded to the pandemic with massive policy stimulus using interest rate cuts, asset purchases and liquidity injections to support the economy. Together these factors resulted in very low global inflation in 2020.

The Outlook for 2021

The good news is that the rollout of vaccinations globally is accelerating, and the early evidence is that they work. What we all want now is to get back to work, have a growing economy, and have dependable money that holds its value as we recover from the pandemic.

There are three main factors putting upward pressure on inflation in 2021:
1. Higher Energy Prices: Oil prices have now recovered to around the same level they were before the pandemic, so will soon begin to push up on inflation as they begin to be compared to the low level of prices last year.
2. The expiry of economic support and pent up demand: For example temporary VAT cuts pulled down inflation in 2020, the return in 2021 will push inflation higher. fully. Emerging bottlenecks threaten to raise the price of goods. A shortage of semiconductors caused by this year’s boom in demand for tech equipment is disrupting the production of cars, computers and smartphones.
3. Increased shipping costs: Global shipping costs almost trebled since the start of 2020. Space on container ships costs 180% more than a year ago.

In January 2021 underlying prices in the euro zone rose at their fastest pace for five years. Inflation will pick up noticeably over the next few months and remain elevated throughout most of 2021. This is not a bad thing. Modestly higher inflation is actually a positive indicator of the ongoing recovery in the global economy. The temporary nature of the factors pushing up inflation in 2021, combined with spare capacity in both product and labour markets, make it unlikely that inflation will increase further and become a real concern in the near future.

Beyond 2021

However if upward inflation trends surge long-term beyond 2021 there is reason to worry. Global debt is large and central-bank balance-sheets are swollen as a result of the COVID-19 pandemic. An era of high inflation and high interest rates must be avoided. There is a lot to like about the idea of escaping the low-inflation, low-rate paradigm of the past decade. But higher inflation will expose the world economy and financial markets to a bumpy ride.

What is the current rate of inflation in 2021?

The latest available inflation rate for all countries world wide (as available on 4 March 2021) are as follows:

• 6.4% for Afghanistan as at November 2020.
• 0.4% for Albania as at January 2021.
• 2.4% for Algeria as at November 2020.
• 1.5% for Andorra as at 2020.
• 24.41% for Angola as at January 2021.
• -0.4% for Anguilla as at 2020.
• 1.97% for Antigua and Barbuda as at 2020.
• 38.5% for Argentina as at January 2021.
• 5.3% for Armenia as at February 2021.
• -2.7% for Aruba as at November 2020.
• 0.9% for Australia as at December 2020.
• 0.8% for Austria as at January 2021.
• 3.3% for Azerbaijan as at January 2021.
• -0.74% for the Bahamas as at September 2020.
• -2.7% for Bahrain as at January 2021.
• 5.02% for Bangladesh as at January 2021.
• 1.9% for Barbados as at July 2020.
• 7.7% for Belarus as at January 2021.
• 0.46% for Belgium as at February 2021.
• 0.4% for Belize as at December 2020.
• 2.1% for Benin as at November 2020.
• -0.7% for Bermuda as at September 2020.
• 7.75% for Bhutan as at October 2020.
• 0.7% for Bolivia as at December 2020.
• -1.6% for Bosnia and Herzegovina as at December 2020.
• 2.3% for Botswana as at January 2021.
• 4.56% for Brazil as at January 2021.
• 2.1% for the British Virgin Islands as at 2020.
• 2% for Brunei as at December 2020.
• -0.6% for Bulgaria as at January 2021.
• 2.3% for Burkina Faso as at December 2020.
• 9% for Burundi as at November 2020.
• 3.7% for Cambodia as at November 2020.
• 2.43% for Cameroon as at September 2020.
• 1% for Canada as at January 2021.
• -0.9% for Cape Verde as at January 2021.
• -1.6% for the Cayman Islands as at September 2020.
• 0.44% for the Central African Republic as at December 2020.
• 4.5% for Chad as at November 2020.
• 3.1% for Chile as at January 2021.
• -0.3% for China as at January 2021.
• 1.6% for Colombia as at January 2021.
• 3.7% for Comoros as at December 2019.
• -0.56% for the Cook Islands as at December 2020.
• 22.02% for Congo as at November 2020.
• 0.96% for Costa Rica as at January 2021.
• -0.3% for Croatia as at January 2021.
• 5.7% for Cuba as at December 2019.
• -1.6% for Cyprus as at January 2021.
• 2.2% for the Czech Republic as at January 2021.
• 0.6% for Denmark as at January 2021.
• 0.5% for Djibouti as at October 2020.
• 1.4% for Dominica as at 2020.
• 6.23% for the Dominican Republic as at January 2021.
• 2% for East Timor as at January 2021.
• -1.04% for Ecuador as at January 2021.
• 4.3% for Egypt as at January 2021.
• 0.31% for El Salvador as at January 2021.
• 1.8% for Equatorial Guinea as at December 2019.
• -16.4% for Eritrea as at December 2019.
• 0.2% for Estonia as at January 2021.
• 19.2% for Ethiopia as at January 2021.
• 0.9% for the Euro Area as at February 2021.
• 0.2% for the European Union as at December 2020.
• 0.7% for the Falkland Islands as at January 2021.
• 1.1% for Fiji as at February 2021.
• 0.9% for Finland as at January 2021.
• 0.4% for France as at February 2021.
• 0.4% for French Guiana as at February 2021.
• 0.4% for French Polynesia as at February 2021.
• 2% for Gabon as at December 2020.
• 7.57% for the Gambia as at January 2021.
• 3.6% for Georgia as at February 2021.
• 1.3% for Germany as at February 2021.
• 9.9% for Ghana as at January 2021.
• 0.9% for Gibraltar as at February 2021.
• -2% for Greece as at January 2021.
• 0.6% for Greenland as at January 2021.
• 1.1% for Grenada as at 2020.
• 0.6% for Guadeloupe as at 2020.
• 2.3% for Guam as at 2020.
• 5.24% for Guatemala as at January 2021.
• 0.7% for Guernsey as at January 2021.
• 12.57% for Guinea as at January 2021.
• 1.6% for Guinea Bissau as at November 2020.
• 1.16% for Guyana as at November 2020.
• 19.2% for Haiti as at December 2020.
• 4.18% for Honduras as at January 2021.
• 1.9% for Hong Kong as at January 2021.
• 2.7% for Hungary as at January 2021.
• 4.1% for Iceland as at February 2021.
• 4.06% for India as at January 2021.
• 1.38% for Indonesia as at February 2021.
• 48.2% for Iran as at February 2021.
• 4% for Iraq as at December 2020.
• -0.2% for Ireland as at January 2021.
• 0.7% for the Isle of Man as at January 2021.
• -0.4% for Israel as at January 2021.
• 0.6% for Italy as at February 2021.
• 2.3% for Ivory Coast as at January 2021.
• 5.2% for Jamaica as at December 2020.
• -0.6% for Japan as at January 2021.
• 0.7% for Jersey as at January 2021.
• -0.3% for Jordan as at January 2021.
• 7.4% for Kazakhstan as at February 2021.
• 5.78% for Kenya as at February 2021.
• 2.1% for Kiribati as at 2020.
• 2.1% for Kiribati as at 2020.
• 2.95% for Kuwait as at January 2021.
• 10.1% for Kyrgyzstan as at January 2021.
• 2.01% for Laos as at January 2021.
• -0.5% for Latvia as at January 2021.
• 146% for Lebanon as at December 2020.
• 5.7% for Lesotho as at December 2020.
• 10.39% for Liberia as at November 2020.
• 1.3% for Libya as at April 2020.
• -0.8% for Liechtenstein as at December 2020.
• 0.3% for Lithuania as at January 2021.
• 1.9% for Luxembourg as at January 2021.
• -1.18% for Macau as at January 2021.
• 1.9% for Macedonia as at January 2021.
• 4.5% for Madagascar as at December 2020.
• 7.7% for Malawi as at January 2021.
• -0.2% for Malaysia as at January 2021.
• -0.95% for the Maldives as at January 2021.
• 2.5% for Mali as at November 2020.
• 0.2% for Malta as at January 2021.
• 0.16% for the Marshall Islands as at 2020.
• 1.2% for Martinique as at 2020.
• 1.8% for Mauritania as at December 2020.
• 1% for Mauritius as at January 2021.
• 3.54% for Mexico as at January 2021.
• 2% for Micronesia as at 2020.
• 0.2% for Moldova as at January 2021.
• 0.6% for Monaco as at February 2021.
• 2.4% for Mongolia as at January 2021.
• -0.7% for Montenegro as at January 2021.
• 1.5% for Montserrat as at 2020.
• 0% for Morocco as at January 2021.
• 4.1% for Mozambique as at January 2021.
• 0.97% for Myanmar as at November 2020.
• 2.7% for Namibia as at January 2021.
• 3.8% for Nauru as at 2020.
• 3.56% for Nepal as at January 2021.
• 1.8% for the Netherlands as at February 2021.
• 1.8% for the Netherlands Antilles as at February 2021.
• -0.8% for New Caledonia as at December 2020.
• 1.4% for New Zealand as at December 2020.
• 2.93% for Nicaragua as at December 2020.
• 5.7% for Niger as at August 2020.
• 16.47% for Nigeria as at January 2021.
• 55% for North Korea as at July 2013.
• 1.5% for the Northern Mariana Islands as at 2020.
• 2.5% for Norway as at January 2021.
• -1.57% for Oman as at January 2021.
• 8.7% for Pakistan as at February 2021.
• 2.6% for Palau as at 2020.
• -0.59% for Palestine as at January 2021.
• -1.95% for Panama as at October 2020.
• 5.8% for Papua New Guinea as at September 2020.
• 2.5% for Paraguay as at February 2021.
• 2.4% for Peru as at February 2021.
• 4.2% for Philippines as at January 2021.
• 2.7% for Poland as at January 2021.
• 0.5% for Portugal as at February 2021.
• -0.5% for Puerto Rico as at November 2020.
• -1.29% for Qatar as at January 2021.
• 22.02% for Congo as at November 2020.
• 0.4% for Reunion as at February 2021.
• 3% for Romania as at January 2021.
• 5.2% for Russia as at January 2021.
• 3.5% for Rwanda as at January 2021.
• 4.1% for Saint Helena as at 2020.
• 1.97% for Saint Kitts and Nevis as at 2020.
• 1.95% for Saint Lucia as at 2020.
• 2% for Saint Vincent and the Grenadines as at 2020.
• 5.1% for Samoa as at 2020.
• 0.2% for San Marino as at December 2020.
• 9.4% for Sao Tome and Principe as at January 2021.
• 5.7% for Saudi Arabia as at January 2021.
• 0.9% for Senegal as at January 2021.
• 1.1% for Serbia as at January 2021.
• 7.62% for Seychelles as at January 2021.
• 10.45% for Sierra Leone as at December 2020.
• 0.2% for Singapore as at January 2021.
• 0.7% for Slovakia as at January 2021.
• -1% for Slovenia as at February 2021.
• 1.6% for the Solomon Islands as at 2020.
• 5% for Somalia as at January 2021.
• 3.2% for South Africa as at January 2021.
• 1.1% for South Korea as at February 2021.
• 58% for South Sudan as at December 2020.
• 0% for Spain as at February 2021.
• 3.3% for Sri Lanka as at February 2021.
• 212% for the Sudan as at September 2020.
• 56.4% for Suriname as at November 2020.
• 4.6% for Swaziland as at December 2020.
• 1.6% for Sweden as at January 2021.
• -0.5% for Switzerland as at February 2021.
• 13.1% for Syria as at August 2019.
• -0.16% for Taiwan as at January 2021.
• 9.61% for Tajikistan as at January 2021.
• 3.5% for Tanzania as at January 2021.
• -0.34% for Thailand as at January 2021.
• 1.9% for Togo as at January 2021.
• 5.3% for Tonga as at 2020.
• 0.8% for Trinidad and Tobago as at December 2020.
• 4.9% for Tunisia as at January 2021.
• 15.61% for Turkey as at February 2021.
• 10% for Turkmenistan as at December 2020.
• 2.1% for the Turks and Caicos Islands as at 2020.
• 4.2% for Tuvalu as at 2020.
• 3.8% for Uganda as at February 2021.
• 6.1% for the Ukraine as at January 2021.
• -2.09% for the United Arab Emirates as at December 2020.
• 0.7% for the United Kingdom as at January 2021.
• 1.4% for the United States as at January 2021.
• 9.12% for Uruguay as at February 2021.
• 1.4% for the US Virgin Islands as at January 2021.
• 11.6% for Uzbekistan as at January 2021.
• 3% for Vanuatu as at March 2020.
• 2665% for Venezuela as at January 2021.
• 0.7% for Vietnam as at February 2021.
• 0.77% for Yemen as at June 2017.
• 22.2% for Zambia as at February 2021.
• 322% for Zimbabwe as at February 2021.

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