Mapped: Global Inflation by Country (2020-2025)
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Key Takeaways
- Since 2020, cumulative inflation in Argentina has jumped by 2,164%, vastly higher than any other country worldwide.
- Türkiye (464%) and Egypt (116%) also had severe increases, driven from unconventional monetary policies and currency devaluation.
- Consumer prices are up more than 20% in developed economies like the U.S. (23%) and Germany (22%), while Japan (8%) and other Asian economies saw much lower increases.
How much have prices increased since 2020, and which countries have felt the largest impact?
While inflation rates are generally subsiding, it’s easy to forget previous bouts of inflation are already baked into prices around the world. For example, in European countries like Hungary and Poland, prices are at least 40% higher than before the pandemic, while prices in Brazil are up 30%.
This graphic shows the cumulative change in global inflation rates since 2020, based on data from Deutsche Bank.
Global Inflation Over Five Years
With inflation soaring to its highest level since the 1970s in recent years, we show the total change across 48 countries as of June 2025:
| Country | Consumer Inflation, Cumulative (2020-2025) |
|---|---|
 Argentina |
2,614% |
 Türkiye |
464% |
 Egypt |
116% |
 Hungary |
52% |
 Russia |
44% |
 Poland |
42% |
 Czechia |
41% |
 Colombia |
39% |
 Chile |
34% |
 Brazil |
33% |
 India |
33% |
 Mexico |
30% |
 South Africa |
28% |
 Austria |
25% |
 Netherlands |
25% |
 Philippines |
24% |
 United Kingdom |
24% |
 United States |
23% |
 New Zealand |
23% |
 Belgium |
22% |
 Germany |
22% |
 Norway |
21% |
 Australia |
21% |
 Sweden |
21% |
 Canada |
18% |
 Luxembourg |
18% |
 Italy |
18% |
 Spain |
18% |
 Portugal |
18% |
 France |
17% |
 Ireland |
17% |
 Finland |
16% |
 Singapore |
16% |
 Denmark |
16% |
 Greece |
16% |
 South Korea |
15% |
 Indonesia |
14% |
 Saudi Arabia |
14% |
 Israel |
13% |
 Taiwan |
10% |
 Malaysia |
9% |
 Qatar |
9% |
 Hong Kong |
8% |
 Japan |
8% |
 Thailand |
8% |
 China |
6% |
 UAE |
6% |
 Switzerland |
6% |
Inflation was 2,614% in Argentina, with the country facing its seventh sovereign debt default in 2020, leading to a money printing spree to boost the economy, pushing up prices.
Meanwhile, in Europe, countries including Hungary (52%), Russia (44%), Poland (42%), and Czechia (39%) have experienced steep price increases fueled by higher energy costs due to the Russia-Ukraine war.
This impact was less pronounced in the UK, where prices have increased by 24%.
Across Europe, Switzerland saw the least impact, with cumulative inflation rising just 6% given the strength of the Swiss franc. Going further, inflation turned negative in May of this year, prompting its central bank to cut interest rates to 0%.
In America, prices are up 23% since 2020, with electricity prices up more than twice the rate of inflation over the past year, and beef up 16% since August 2024. While inflation is gradually treading lower from post-pandemic peaks, key corners of the market continue to add pressure to living costs for Americans.
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To learn more about this topic, check out this graphic on inflation projections by country in 2025 and 2026.
