Check out the inflation rates varying globally – From Venezuela with more than 400% to China reporting a rate of nearly 0%

Inflation is the sustained increase in the general price level of goods and services over time. It is caused by factors such as increased demand, higher production costs, and expectations of future price increases. It can have both positive and negative effects on the economy, requiring measures to manage and maintain price stability.

The acceptable level of inflation differs among countries and depends on factors like economic conditions, monetary policy objectives, and government goals. There is no universally applicable percentage. Generally, central banks and governments strive to maintain a stable inflation rate within a targeted range.

Developed economies often aim for around 2% inflation as desirable. However, developing countries or those with unique circumstances may have different inflation targets. It is crucial for each country to evaluate its economic situation and establish an inflation target that encourages price stability and fosters sustainable economic growth.

As per the ‘World of Statistics’ the current inflation rate of the countries mentioned below are –

Inflation rate:

🇻🇪 Venezuela: 404%
🇱🇧 Lebanon: 260%
🇸🇾 Syria: 139%
🇦🇷 Argentina: 116%
🇹🇷 Türkiye: 38.21%
🇪🇬 Egypt: 35.7%
🇵🇰 Pakistan: 29.4%
🇳🇬 Nigeria: 22.41%
🇭🇺 Hungary: 20.1%
🇰🇿 Kazakhstan: 14.6%
🇺🇦 Ukraine: 12.8%
🇵🇱 Poland: 11.5%
🇨🇿 Czechia: 9.7%
🇧🇩 Bangladesh: 9.7%
🇸🇪 Sweden: 9.3%
🇬🇧 UK: 8.7%
🇦🇹 Austria: 8%
🇰🇪 Kenya: 7.9%
🇦🇺 Australia: 7%
🇳🇴 Norway: 6.4%
🇮🇹 Italy: 6.4%
🇩🇪 Germany: 6.38%
🇿🇦 South Africa: 6.3%
🇮🇪 Ireland: 6.1%
🇳🇱 Netherlands: 5.7%
🇵🇭 Philippines: 5.4%
🇸🇬 Singapore: 5.1%
🇲🇽 Mexico: 5.06%
🇮🇳 India: 4.81%
🇫🇷 France: 4.5%
🇮🇱 Israel: 4.2%
🇮🇩 Indonesia: 3.52%
🇨🇦 Canada: 3.4%
🇯🇵 Japan: 3.2%
🇷🇺 Russia: 3.2%
🇧🇷 Brazil: 3.16%
🇦🇪 UAE: 3.05%
🇺🇸 USA: 2.97%
🇸🇦 Saudi Arabia: 2.8%
🇰🇷 South Korea: 2.7%
🇩🇰 Denmark: 2.5%
🇪🇸 Spain: 1.9%
🇨🇭 Switzerland: 1.7%
🇳🇪 Niger: 0.27%
🇹🇭 Thailand: 0.23%
🇨🇳 China: 0%
🇦🇲 Armenia: -0.5%
🇦🇫 Afghanistan: -1%
🇸🇨 Seychelles: -1.3%

Deflation, or negative inflation, refers to a sustained decrease in the general price level of goods and services in an economy. This means that overall prices are declining instead of increasing.