The U.S. isn’t alone: Over 35 countries hit with inflation

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Inflation in the US has grown at the third fastest rate during the past two years among 46 Organization for Economic Co-operation and Development and other economically important countries.

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big picture: Rising prices are not just a problem in the United States. Forty-nine of the other countries analyzed by the Pew Research Center saw an increase in inflation between the third quarter of 2019 and the third quarter of this year.

  • Many countries that are members of the OECD have followed a similar trend: low inflation before COVID-19, followed by flat or falling inflation amid the pandemic.
  • Then, in the second and third quarters of this year, as nations began to resume normal lives, inflation began to rise, according to Pew.

By numbers: While the US has seen its inflation rate rise faster than all but two countries analyzed, its absolute annual inflation rate is the eighth highest in the group.

  • And while inflation has declined since 2019, Argentina is still plagued by the highest inflation rate of any other country at 52%.
  • It is followed by Turkey (19%), which saw a sharp increase in inflation compared to two years ago.
  • Meanwhile, Japan has had the opposite problem – struggling to deal with prices. Just keep falling Consumer prices declined 0.2% in the quarter compared to last year.
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