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The Global Inflation Forecast, by Country in 2026
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Key Takeaways
- Global inflation is projected to ease from 4.2% in 2025 to 3.7% in 2026.
- The IMF expects U.S. inflation to follow a similar path, falling from 2.7% to reach 2.4% this year.
In 2026, U.S. inflation is projected to decline to 2.4%, ultimately remaining above the Fed’s target. Many European and Asian countries, meanwhile, are expected to see sub-2% increases in prices. Countries facing instability, like Venezuela and Sudan, will brace for significantly higher price pressures.
This graphic shows the 2026 inflation forecast for global economies, based on data from the International Monetary Fund.
Ranked: The 2026 Inflation Forecast
Below, we show inflation projections for 2026 across 190 economies:
| Rank | Country | Inflation Rate Forecast 2026 (%) | Region |
|---|---|---|---|
| 1 | Venezuela | 682.1 | South America |
| 2 | Sudan | 54.6 | Africa |
| 3 | Iran | 41.6 | Middle East |
| 4 | Myanmar | 28.0 | Asia |
| 5 | Burundi | 26.3 | Africa |
| 6 | Haiti | 26.2 | North America |
| 7 | Türkiye | 24.7 | Asia |
| 8 | Malawi | 24.1 | Africa |
| 9 | Nigeria | 22.0 | Africa |
| 10 | Yemen | 18.5 | Middle East |
| 11 | Zimbabwe | 18.2 | Africa |
| 12 | Argentina | 16.4 | South America |
| 13 | Angola | 16.3 | Africa |
| 14 | South Sudan | 15.8 | Africa |
| 15 | Egypt | 11.8 | Africa |
| 16 | Kazakhstan | 11.2 | Asia |
| 17 | Sierra Leone | 10.5 | Africa |
| 18 | Ghana | 9.9 | Africa |
| 19 | Suriname | 9.6 | South America |
| 20 | Ethiopia | 9.4 | Africa |
| 21 | Zambia | 9.2 | Africa |
| 22 | Bangladesh | 8.7 | Asia |
| 23 | Mongolia | 8.1 | Asia |
| 24 | Liberia | 7.7 | Africa |
| 25 | Ukraine | 7.6 | Europe |
| 26 | Belarus | 7.5 | Europe |
| 27 | Uzbekistan | 7.3 | Asia |
| 28 | Madagascar | 7.2 | Africa |
| 29 | DR Congo | 7.1 | Africa |
| 30 | São Tomé and Príncipe | 7.0 | Africa |
| 31 | Kyrgyz Republic | 6.9 | Asia |
| 32 | Romania | 6.7 | Europe |
| 33 | Tunisia | 6.1 | Africa |
| 34 | Pakistan | 6.0 | Asia |
| 35 | Marshall Islands | 5.9 | Oceania |
| 36 | Lao P.D.R. | 5.5 | Asia |
| 37 | Moldova | 5.5 | Europe |
| 38 | Mozambique | 5.4 | Africa |
| 39 | Kenya | 5.2 | Africa |
| 40 | Russian Federation | 5.2 | Asia |
| 41 | Turkmenistan | 5.0 | Asia |
| 42 | Jamaica | 5.0 | North America |
| 43 | Gambia | 4.9 | Africa |
| 44 | Lesotho | 4.8 | Africa |
| 45 | Botswana | 4.7 | Africa |
| 46 | Rwanda | 4.7 | Africa |
| 47 | Papua New Guinea | 4.6 | Oceania |
| 48 | Togo | 4.5 | Africa |
| 49 | Azerbaijan | 4.5 | Asia |
| 50 | Tajikistan | 4.5 | Asia |
| 51 | Nauru | 4.5 | Oceania |
| 52 | Uruguay | 4.5 | South America |
| 53 | Guyana | 4.4 | South America |
| 54 | Uganda | 4.3 | Africa |
| 55 | Estonia | 4.3 | Europe |
| 56 | Nepal | 4.2 | Asia |
| 57 | Dominican Republic | 4.2 | North America |
| 58 | Honduras | 4.2 | North America |
| 59 | Eswatini | 4.0 | Africa |
| 60 | India | 4.0 | Asia |
| 61 | Serbia | 4.0 | Europe |
| 62 | Brazil | 4.0 | South America |
| 63 | Algeria | 3.9 | Africa |
| 64 | South Africa | 3.7 | Africa |
| 65 | Solomon Islands | 3.7 | Oceania |
| 66 | Paraguay | 3.7 | South America |
| 67 | Chad | 3.6 | Africa |
| 68 | Mauritius | 3.6 | Africa |
| 69 | Namibia | 3.6 | Africa |
| 70 | Mauritania | 3.5 | Africa |
| 71 | Somalia | 3.5 | Africa |
| 72 | Tanzania | 3.5 | Africa |
| 73 | Hungary | 3.5 | Europe |
| 74 | Kiribati | 3.5 | Oceania |
| 75 | Colombia | 3.5 | South America |
| 76 | Bhutan | 3.4 | Asia |
| 77 | Georgia | 3.4 | Asia |
| 78 | Bulgaria | 3.4 | Europe |
| 79 | Micronesia | 3.4 | Oceania |
| 80 | Cameroon | 3.3 | Africa |
| 81 | Central African Republic | 3.3 | Africa |
| 82 | Slovak Republic | 3.3 | Europe |
| 83 | Guatemala | 3.3 | North America |
| 84 | Mexico | 3.3 | North America |
| 85 | Congo | 3.2 | Africa |
| 86 | Niger | 3.2 | Africa |
| 87 | Vietnam | 3.2 | Asia |
| 88 | Samoa | 3.2 | Oceania |
| 89 | Iceland | 3.1 | Europe |
| 90 | Lithuania | 3.1 | Europe |
| 91 | Chile | 3.1 | South America |
| 92 | Guinea | 3.0 | Africa |
| 93 | North Macedonia | 3.0 | Europe |
| 94 | Australia | 3.0 | Oceania |
| 95 | Equatorial Guinea | 2.9 | Africa |
| 96 | Indonesia | 2.9 | Asia |
| 97 | Palau | 2.9 | Oceania |
| 98 | Armenia | 2.8 | Asia |
| 99 | Albania | 2.8 | Europe |
| 100 | Croatia | 2.8 | Europe |
| 101 | Poland | 2.8 | Europe |
| 102 | Ecuador | 2.8 | South America |
| 103 | Kosovo | 2.7 | Europe |
| 104 | Nicaragua | 2.7 | North America |
| 105 | Philippines | 2.6 | Asia |
| 106 | Bosnia and Herzegovina | 2.6 | Europe |
| 107 | Latvia | 2.6 | Europe |
| 108 | Jordan | 2.6 | Middle East |
| 109 | Qatar | 2.6 | Middle East |
| 110 | Gabon | 2.5 | Africa |
| 111 | Maldives | 2.5 | Asia |
| 112 | Greece | 2.5 | Europe |
| 113 | United Kingdom | 2.5 | Europe |
| 114 | Iraq | 2.5 | Middle East |
| 115 | Barbados | 2.5 | North America |
| 116 | Burkina Faso | 2.4 | Africa |
| 117 | Netherlands | 2.4 | Europe |
| 118 | Norway | 2.4 | Europe |
| 119 | Slovenia | 2.4 | Europe |
| 120 | Antigua and Barbuda | 2.4 | North America |
| 121 | United States | 2.4 | North America |
| 122 | Austria | 2.3 | Europe |
| 123 | Czech Republic | 2.3 | Europe |
| 124 | Montenegro | 2.3 | Europe |
| 125 | Dominica | 2.3 | North America |
| 126 | Tuvalu | 2.3 | Oceania |
| 127 | Malaysia | 2.2 | Asia |
| 128 | Luxembourg | 2.2 | Europe |
| 129 | Israel | 2.2 | Middle East |
| 130 | Kuwait | 2.2 | Middle East |
| 131 | Puerto Rico | 2.2 | North America |
| 132 | Trinidad and Tobago | 2.2 | North America |
| 133 | Tonga | 2.2 | Oceania |
| 134 | Vanuatu | 2.2 | Oceania |
| 135 | Hong Kong SAR | 2.1 | Asia |
| 136 | Japan | 2.1 | Asia |
| 137 | Denmark | 2.1 | Europe |
| 138 | Portugal | 2.1 | Europe |
| 139 | Saint Kitts and Nevis | 2.1 | North America |
| 140 | Saint Vincent and the Grenadines | 2.1 | North America |
| 141 | New Zealand | 2.1 | Oceania |
| 142 | Aruba | 2.1 | South America |
| 143 | Benin | 2 | Africa |
| 144 | Cabo Verde | 2.0 | Africa |
| 145 | Guinea-Bissau | 2.0 | Africa |
| 146 | Mali | 2.0 | Africa |
| 147 | Senegal | 2.0 | Africa |
| 148 | Italy | 2.0 | Europe |
| 149 | Malta | 2.0 | Europe |
| 150 | San Marino | 2.0 | Europe |
| 151 | Spain | 2.0 | Europe |
| 152 | Saudi Arabia | 2.0 | Middle East |
| 153 | United Arab Emirates | 2.0 | Middle East |
| 154 | Canada | 2.0 | North America |
| 155 | Costa Rica | 2.0 | North America |
| 156 | Panama | 2.0 | North America |
| 157 | Comoros | 1.9 | Africa |
| 158 | Finland | 1.9 | Europe |
| 159 | Belize | 1.9 | North America |
| 160 | Peru | 1.9 | South America |
| 161 | Morocco | 1.8 | Africa |
| 162 | Cambodia | 1.8 | Asia |
| 163 | South Korea | 1.8 | Asia |
| 164 | Timor-Leste | 1.8 | Asia |
| 165 | Andorra | 1.8 | Europe |
| 166 | Germany | 1.8 | Europe |
| 167 | Ireland | 1.7 | Europe |
| 168 | Libya | 1.6 | Africa |
| 169 | Taiwan | 1.6 | Asia |
| 170 | Sweden | 1.6 | Europe |
| 171 | Côte d'Ivoire | 1.5 | Africa |
| 172 | France | 1.5 | Europe |
| 173 | Oman | 1.5 | Middle East |
| 174 | Saint Lucia | 1.5 | North America |
| 175 | Djibouti | 1.4 | Africa |
| 176 | Singapore | 1.3 | Asia |
| 177 | Belgium | 1.3 | Europe |
| 178 | Cyprus | 1.3 | Europe |
| 179 | Macao SAR | 1.2 | Asia |
| 180 | Seychelles | 1.1 | Africa |
| 181 | Grenada | 1.1 | North America |
| 182 | Fiji | 1.1 | Oceania |
| 183 | Bahamas | 1.0 | North America |
| 184 | El Salvador | 1.0 | North America |
| 185 | Bahrain | 0.8 | Middle East |
| 186 | China | 0.7 | Asia |
| 187 | Thailand | 0.7 | Asia |
| 188 | Brunei Darussalam | 0.6 | Asia |
| 189 | Liechtenstein | 0.6 | Europe |
| 190 | Switzerland | 0.6 | Europe |
Venezuela continues to face the highest inflation worldwide by a huge margin, with inflation set to increase 682.1% in 2026. (Note these forecasts were released before President Nicolas Maduro’s capture and U.S. plans to take over Venezuelan oil production).
Moreover, conflict-ridden countries including Sudan, Iran, and Myanmar, face inflation rates exceeding 25%.
In the U.S., inflation is expected to trend lower, though several risks could influence the outlook. While tariff front-loading muted inflationary effects in 2025, pass-through effects could meaningfully affect consumer prices in 2026.
Meanwhile, several economies, from Italy and Spain to Senegal and Saudi Arabia are expected to see inflation reach a 2% target.
In contrast, Switzerland and Liechtenstein are projected to see the lowest inflation globally, at 0.6%. For Switzerland, a strong Swiss franc has led import prices to drop, mirroring a trend seen in the past two years.
Additionally, consumer prices in Thailand and China are set to rise just 0.7% amid deflationary pressures.
Learn More on the Voronoi App
To learn more about this topic, check out this graphic on interest rate projections across advanced economies.