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January 15, 2026 Graphics/Design:

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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:

RankCountryInflation 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.