World Country Ranking by Average Inflation Rate from 1980-2024

Inflation Rate

The World Bank published a dataset containing the annual average inflation rate for countries worldwide from 1980 to 2024. The analysis figures out that Japan had the lowest average rate of inflation, 1.07 from 1980 to 2024. On the other hand, Venezuela’s average rate of inflation is much higher than any other country in the world, which is 2041.72. 

This rate is significantly higher than the other inflation rates and becomes a high outlier in the whole dataset. The country with the second largest average rate shows the significance of this vast difference. It is Congo, and the rate is only 791. 

The mean inflation of Venezuela increased due to the hyperinflation during 2018-2021. The annual rate was respectively 65374.1, 19906, 2355.1, and 1588.5. The average of these rates are approximately 444 times higher than the average rates of inflation from 1980 to 2018. 

Like Venezuela, Congo also faced a hyperinflation from 1991 to 1994, where the rate became 119 times more than the previous years. Fortunately, the country could decrease the rate since that time significantly and hence the annual rate is only 10.6 in 2024. 

The third highest rate is found in Nicaragua which is 676.15. In 1987, the annual rate suddenly rose to 13109.5 from 885.2 which was in 1986. 

It is noticeable that, when a country cannot decrease the rate of inflation for three consecutive years and it’s around or more than 150, the country faces a hyperinflation in near future, where the rate rises to more than one thousand. 

The following dataset contains the country ranking by average annual inflation from 1980 to 2024. Countries with lower average inflation are placed in the top, and countries that have relatively large average rates are placed after the top positions. 

Country Ranking by Average Inflation Rate (1980-2024).xlsx – Google Drive 

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