Global Inflation Rates Surging: A Worldwide Analysis
An Overview of Current Inflation Trends
Inflation on the Rise
According to the World Bank's Prospects Group, global inflation rates have witnessed a significant surge. Between the third quarters of 2020 and 2022, the median global inflation soared from 19% to 88%. By July 2022, global inflation had reached its highest point since the mid-1990s, though it has since started to decline. However, inflation remains elevated.
Consumer Price Index Inflation
In March 2022, the global inflation rate for the consumer price index reached 9.22%, compared to 7.47% in the same period the previous year. The International Monetary Fund anticipates significant inflation pressures to continue globally.
World Economic Outlook (WEO)
The WEO, published twice annually in April and September/October, provides data on national inflation rates. This database can be accessed to obtain country-specific inflation data.
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