The U.S. isn’t alone: Over 35 countries hit with inflation spike

[ad_1]

Inflation in the U.S. has risen during the past two years at the third-fastest rate out of 46 Organization for Economic Cooperation and Development and other economically significant countries.

The big picture: Rising prices aren’t just a problem in the United States. Thirty-nine of the other countries analyzed by the Pew Research Center saw inflation increase between the third quarter of 2019 and the third quarter of this year.

Many countries that are members of the OECD have followed a similar trend: Low inflation before COVID-19, followed by flat or falling inflation in the middle of the pandemic.
Then, in the second and third quarters of this year, inflation started rising as nations began to resume normal life, according to Pew.

By the numbers: While the U.S. has seen its inflation rate rise faster than all but two countries analyzed, its absolute annual inflation rate is the eighth highest of the group.

And while inflation has declined since 2019, Argentina is still plagued by the highest inflation rate of any other country at 52%.
It’s followed by Turkey (19%), which saw a sharp rise in inflation compared to two years ago.
Meanwhile, Japan has had the opposite problem — struggling to deal with prices that just keep falling. Consumer prices for this quarter fell 0.2% compared to last year.