Want to live cheaply? is the global inflation map
The increase in prices is not the domain of Western countries, and in the meantime it seems that those who seek to save will find themselves in particularly exotic destinations
Investors are preparing for continued inflation and in the meantime the Federal Reserve indicated that a more restrictive monetary policy is on the table amid strong employment gains.
In Europe, although inflation has decreased, it is still well above the 2% target, and throughout the Eurozone, inflation is estimated to be around 8.5% in January.
At the same time, as Dorothy Neufeld and Sam Parker of Visual Capitalist detail below, there is Some countries managed to curb inflation.
Slow growth + cheap import costs + and foreign exchange policy are some of the factors that kept inflation under control in these countries.
Thus, in the face of price pressures shaking the global markets, the infographic below maps the global inflation rates for you using data from Trading Economics.
The data (accompanying the table below) focuses on the countries with the lowest inflation levels.
The lowest inflation rates in the world
Many of the world’s lowest inflation rates are located in Asia, including Macau, China, Hong Kong and Taiwan.
In this region, widespread shutdowns have limited growth and consumer spending, reducing inflationary pressures.
Last year, Chinese consumers saved $2.2 trillion in bank deposits during the restrictions lifted earlier this year.
The low inflation in the region was influenced by several other factors.
Earlier during the epidemic, Asian countries including China were less affected by the increase in food prices, service inflation and disruptions in the supply chain, this is in contrast to what is seen in North America and Europe.
But now that China has reopened, some signs of inflation are starting to emerge as food prices rose 4.8% in December, and hotel prices also rose.
| rank | Country / Region | Inflation rate, year to year | Tamar |
|---|---|---|---|
| 1 | South Sudan | -11.6% | Dec 2022 |
| 2 | Macau | 0.8% | Nov 2022 |
| 3 | China | 1.8% | Dec 2022 |
| 4 | Hong Kong SAR | 1.8% | Nov 2022 |
| 5 | Oman | 2.1% | Nov 2022 |
| 6 | Panama | 2.1% | Dec 2022 |
| 7 | Seychelles | 2.5% | Dec 2022 |
| 8 | Vanuatu | 2.7% | March 2022 |
| 9 | Taiwan | 2.7% | Dec 2022 |
| 10 | Switzerland | 2.8% | Dec 2022 |
| 11 | Liechtenstein | 2.8% | Dec 2022 |
| 12 | building | 2.8% | Dec 2022 |
| 13 | Maldives | 2.8% | Nov 2022 |
| 14 | Niger | 3.1% | Dec 2022 |
| 15 | Brunei | 3.1% | Nov 2022 |
| 16 | Bolivia | 3.2% | Nov 2022 |
| 17 | Kuwait | 3.2% | Nov 2022 |
| 18 | Saudi Arabia | 3.3% | Dec 2022 |
| 19 | Cambodia | 3.6% | Oct 2022 |
| 20 | Fiji | 3.6% | Dec 2022 |
| 21 | Ecuador | 3.7% | Dec 2022 |
| 22 | Japan | 3.8% | Nov 2022 |
| 23 | Libya | 3.8% | Nov 2022 |
| 24 | Bermuda | 3.8% | Oct 2022 |
| 25 | Bahrain | 3.9% | Nov 2022 |
| 26 | Malaysia | 4.0% | Nov 2022 |
| 27 | The Palestinian Authority | 4.1% | Dec 2022 |
| 28 | Iraq | 4.2% | Nov 2022 |
| 29 | Jordan | 4.4% | Dec 2022 |
| 30 | Tajikistan | 4.5% | Nov 2022 |
| 31 | Vietnam | 4.6% | Dec 2022 |
| 32 | Bhutan | 4.6% | Nov 2022 |
| 33 | Tanzania | 4.8% | Dec 2022 |
| 34 | New Caledonia | 4.9% | Dec 2022 |
| 35 | South Korea | 5.0% | Dec 2022 |
| 36 | Israel | 5.3% | Dec 2022 |
| 37 | Luxembourg | 5.4% | Dec 2022 |
| 38 | Swaziland | 5.5% | Oct 2022 |
| 39 | Indonesian | 5.5% | Dec 2022 |
| 40 | Gabon | 5.7% | Oct 2022 |
| 41 | Ivory Coast | 5.7% | Nov 2022 |
| 42 | Spain | 5.7% | Dec 2022 |
| 43 | India | 5.7% | Dec 2022 |
| 44 | Brazil | 5.8% | Dec 2022 |
| 45 | Thailand | 5.9% | Dec 2022 |
| 46 | France | 5.9% | Dec 2022 |
| 47 | Norway | 5.9% | Dec 2022 |
| 48 | Qatar | 5.9% | Dec 2022 |
| 49 | Djibouti | 6.1% | September 2022 |
| 50 | Somalia | 6.1% | Dec 2022 |
| 51 | Trinidad and Tobago | 6.2% | September 2022 |
| 52 | Papua New Guinea | 6.3% | September 2022 |
| 53 | Puerto Rico | 6.3% | Nov 2022 |
| 54 | Canada | 6.3% | Dec 2022 |
| 55 | Bahamas | 6.5% | September 22 |
| 56 | Belize | 6.5% | Nov 2022 |
| 57 | U.S | 6.5% | Dec 2022 |
| 58 | chimney | 6.6% | Nov 2022 |
| 59 | Singapore | 6.7% | Nov 2022 |
| 60 | East Timor | 6.7% | Nov 2022 |
| 61 | United Arab Emirates | 6.8% | June 2022 |
| 62 | Namibia | 6.9% | Dec 2022 |
| 63 | Guyana | 6.9% | Nov 2022 |
| 64 | New Zealand | 7.2% | September 2022 |
| 65 | South Africa | 7.2% | Dec 2022 |
| 66 | Greece | 7.2% | Dec 2022 |
| 67 | Liberia | 7.2% | September 2022 |
| 68 | Australia | 7.3% | September 2022 |
| 69 | Malta | 7.3% | Dec 2022 |
| 70 | El Salvador | 7.3% | Dec 2022 |
| 71 | Albania | 7.4% | Dec 2022 |
| 72 | Cape Verde | 7.6% | Dec 2022 |
| 73 | vault | 7.7% | September 2022 |
| 74 | Central African Republic | 7.7% | Nov 2022 |
| 75 | Togo | 7.7% | Dec 2022 |
| 76 | Mexico | 7.8% | Dec 2022 |
| 77 | Dominican Republic | 7.8% | Dec 2022 |
| 78 | Costa Rica | 7.9% | Dec 2022 |
| 79 | Cyprus | 7.9% | Dec 2022 |
| 80 | Mali | 8.0% | Nov 2022 |
| 81 | Nepal | 8.1% | Nov 2022 |
| 82 | The Philippines | 8.1% | Dec 2022 |
| 83 | Paraguayan | 8.1% | Dec 2022 |
| 84 | Barbados | 8.2% | Oct 2022 |
| 85 | Ireland | 8.2% | Dec 2022 |
| 86 | Uruguay | 8.3% | Dec 2022 |
| 87 | Morocco | 8.3% | Nov 2022 |
| 88 | Armenia | 8.3% | Dec 2022 |
| 89 | Peru | 8.5% | Dec 2022 |
| 90 | Lesotho | 8.5% | Oct 2022 |
| 91 | Algeria | 8.6% | Nov 2022 |
| 92 | Germany | 8.6% | Dec 2022 |
| 93 | Denmark | 8.7% | Dec 2022 |
| 94 | Bangladesh | 8.7% | Dec 2022 |
| 95 | Faroe Islands | 8.8% | September 2022 |
| 96 | Finland | 9.1% | Dec 2022 |
| 97 | buy | 9.1% | Dec 2022 |
| 98 | Cayman Islands | 9.2% | September 2022 |
| 99 | Guatemala | 9.2% | Dec 2022 |
| 100 | Guinea Bissau | 9.4% | Nov 2022 |
*Inflation rates are based on the latest available data
In the world, one exception is South Sudan.
The political instability and violence suppressed growth and inflation, which in December stood at11.6%- Against the background of dealing with a severe humanitarian crisis, this country has the lowest inflation rate in the world.
Oil producer Oman also saw low inflation, of about 2.1%, one of the reasons for this being that the Omani riyal is tied to the US dollar, which keeps the currency anchored.
By the way, it is interesting to note that inflation has remained moderate in Oman throughout the last decade
The country with the lowest inflation, by region
In Europe, the inflation rate in Switzerland is the lowest2.8%,Or about a third of that existing in the euro area.
This is also the lowest rate in the entire OECD – the Swiss franc, the country’s strong currency, protected the mountain country from inflationary pressures and high import prices.
Meanwhile, producer prices in Switzerland rose marginally above inflation by about 4.1% per year in mid-2022.
Last year, by the way, the Swiss central bank raised the interest rate for the first time since 2007 from 0.75% to 0.25%, and this after 20 years of deflation.
And what about Central-South America for all the travelers among us?
Panama has the lowest rate in all of Latin America. The dollarization of the Panamanian balboa helped suppress price pressures.
In July, the government adjusted the price of 72 items to prevent the cost of living from rising, and this at the end of three weeks of protests, when inflation even reached 5.2% during 2022.
With the lowest inflation in Asia, Macau is seeing a booming tourism industry after the harsh lockdowns.
Looking ahead
The International Monetary Fund estimates thatto 84%Of the world’s countries, in 2023 inflation will be lower than last year (this despite estimates that a third of the world will enter a recession).
Until 2024, inflation is expected to remain above pre-pandemic levels and stand at around 4.1%.
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