Economy
G20 Countries: How Far Has Inflation Come Down Since COVID? 📉
![G20 Countries: How Far Has Inflation Come Down Since COVID? 📉](/_next/image?url=https%3A%2F%2Fcdn.voronoiapp.com%2Fpublic%2Fimages%2Fvoronoi-G20-Countries-How-Far-Has-Inflation-Come-Down-Since-COVID--20240510131951.webp&w=3840&q=75)
What we’re showing
Annual inflation rates across the G20, for two dates: Feb. 2024, and each country’s COVID pandemic peak. This data was sourced from Tradingeconomics.com.
Inflation in Argentina is still climbing
Unlike other G20 nations, Argentina’s inflation rate has only gone up since the pandemic. This is largely due to the country’s history of printing money to compensate for government overspending.
One area hit particularly hard is food prices. According to news reports, the price of beef climbed over 30% in the month of August 2023.
Dataset
Country | Inflation (Feb 2024) | Inflation (COVID peak) | Date of Peak |
---|---|---|---|
Argentina | 276.0 | -- | -- |
Turkey | 67.1 | 85.5 | Oct 2022 |
Russia | 7.7 | 17.8 | Apr 2022 |
South Africa | 5.6 | 7.8 | Jul 2022 |
India | 5.1 | 7.8 | Apr 2022 |
Brazil | 4.5 | 12.1 | Apr 2022 |
Mexico | 4.4 | 8.7 | Sept 2022 |
Australia | 4.1 | 7.8 | Dec 2022 |
United Kingdom | 3.4 | 11.1 | Oct 2022 |
United States | 3.2 | 9.1 | Jun 2022 |
South Korea | 3.1 | 6.3 | Jul 2022 |
France | 3.0 | 6.3 | Feb 2023 |
Canada | 2.8 | 8.1 | Jun 2022 |
Japan | 2.8 | 4.3 | Jan 2023 |
Spain | 2.8 | 10.8 | Jul 2022 |
Indonesia | 2.8 | 6 | Sept 2022 |
Germany | 2.5 | 8.8 | Nov 2022 |
Saudi Arabia | 1.8 | 6.2 | Jun 2021 |
Italy | 0.8 | 11.8 | Oct 2022 |
China | 0.7 | 2.8 | Sept 2022 |
Data sources
Note: Spain is a permanent guest of the G20. Australia’s latest inflation rate is as of Dec 2023. The Euro Area was excluded from this analysis.
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