The inflation rates for G-20 countries as of July 2023

The following charts illustrate the inflation rates for G20 countries. Overall, there was a decline in inflation rates for most countries compared to the previous month, with a few exceptions such as Argentina, Russia, Spain, Japan, and India. Notably, the inflation rate in the US also saw a decline of 1% from the previous month.

 Country  Current  Previous Reference Unit  Difference         Pct
0            China     0.00      0.20    Jun/23    %       -0.20 -100.000000
1      Switzerland     1.70      2.20    Jun/23    %       -0.50  -22.727273
2            Spain     2.30      1.90    Jul/23    %        0.40   21.052632
3     Saudi Arabia     2.70      2.80    Jun/23    %       -0.10   -3.571429
4      South Korea     2.70      3.30    Jun/23    %       -0.60  -18.181818
5           Canada     2.80      3.40    Jun/23    %       -0.60  -17.647059
6    United States     3.00      4.10    Jun/23    %       -1.10  -26.829268
7        Indonesia     3.08      3.52    Jul/23    %       -0.44  -12.500000
8           Brazil     3.16      3.94    Jun/23    %       -0.78  -19.796954
9           Russia     3.20      2.50    Jun/23    %        0.70   28.000000
10           Japan     3.30      3.20    Jun/23    %        0.10    3.125000
11          France     4.30      4.50    Jul/23    %       -0.20   -4.444444
12       Singapore     4.50      5.10    Jun/23    %       -0.60  -11.764706
13     Netherlands     4.60      5.70    Jul/23    %       -1.10  -19.298246
14           India     4.81      4.31    Jun/23    %        0.50   11.600928
15          Mexico     5.06      5.84    Jun/23    %       -0.78  -13.356164
16       Euro Area     5.30      5.50    Jul/23    %       -0.20   -3.636364
17    South Africa     5.40      6.30    Jun/23    %       -0.90  -14.285714
18       Australia     6.00      7.00    Jun/23    %       -1.00  -14.285714
19           Italy     6.00      6.40    Jul/23    %       -0.40   -6.250000
20         Germany     6.17      6.38    Jul/23    %       -0.21   -3.291536
21  United Kingdom     7.90      8.70    Jun/23    %       -0.80   -9.195402
22          Turkey    38.21     39.59    Jun/23    %       -1.38   -3.485729
23       Argentina   116.00    114.00    Jun/23    %        2.00    1.754386

Source:https://tradingeconomics.com/country-list/inflation-rate

The changes in Inflation rates for major countries as of 06/05/2023

The average inflation for major economies decreased to 10.56% from 10.97% in the previous period. This is a positive development, as it suggests that inflation is starting to come under control. However, it is important to note that inflation is still high, and it is too early to say whether this trend will continue.

As can be seen from the table, inflation rates vary widely across different economies. Turkey has the highest inflation rate, at 39.6%, while China has the lowest inflation rate, at 0.1%. The average inflation rate for all economies is 10.56%.
+----+----------------+-----------+------------+-------------+--------+--------------+
|    | Country        |   Current |   Previous | Reference   | Unit   |   Difference |
|----+----------------+-----------+------------+-------------+--------+--------------|
|  0 | United States  |    4.9    |     5      | Apr/23      | %      |    -0.1      |
|  1 | United Kingdom |    8.7    |    10.1    | Apr/23      | %      |    -1.4      |
|  2 | Turkey         |   39.59   |    43.68   | May/23      | %      |    -4.09     |
|  3 | Switzerland    |    2.2    |     2.6    | May/23      | %      |    -0.4      |
|  4 | Spain          |    3.2    |     4.1    | May/23      | %      |    -0.9      |
|  5 | South Korea    |    3.3    |     4.2    | May/23      | %      |    -0.9      |
|  6 | South Africa   |    6.8    |     7.1    | Apr/23      | %      |    -0.3      |
|  7 | Singapore      |    5.7    |     5.5    | Apr/23      | %      |     0.2      |
|  8 | Saudi Arabia   |    2.7    |     2.7    | Apr/23      | %      |     0        |
|  9 | Russia         |    2.3    |     3.5    | Apr/23      | %      |    -1.2      |
| 10 | Netherlands    |    6.1    |     5.2    | May/23      | %      |     0.9      |
| 11 | Mexico         |    6.25   |     6.85   | Apr/23      | %      |    -0.6      |
| 12 | Japan          |    3.5    |     3.2    | Apr/23      | %      |     0.3      |
| 13 | Italy          |    7.6    |     8.2    | May/23      | %      |    -0.6      |
| 14 | Indonesia      |    4      |     4.33   | May/23      | %      |    -0.33     |
| 15 | India          |    4.7    |     5.66   | Apr/23      | %      |    -0.96     |
| 16 | Germany        |    6.1    |     7.2    | May/23      | %      |    -1.1      |
| 17 | France         |    5.1    |     5.9    | May/23      | %      |    -0.8      |
| 18 | Euro Area      |    6.1    |     7      | May/23      | %      |    -0.9      |
| 19 | China          |    0.1    |     0.7    | Apr/23      | %      |    -0.6      |
| 20 | Canada         |    4.4    |     4.3    | Apr/23      | %      |     0.1      |
| 21 | Brazil         |    4.18   |     4.65   | Apr/23      | %      |    -0.47     |
| 22 | Australia      |    7      |     7.8    | Mar/23      | %      |    -0.8      |
| 23 | Argentina      |  109      |   104      | Apr/23      | %      |     5        |
| 24 | Average        |   10.5633 |    10.9779 |             |        |    -0.414583 |
+----+----------------+-----------+------------+-------------+--------+--------------+

 The chart below illustrates the changes in inflation rates among major countries compared to the previous period. Most countries observed a decrease in inflation rates, except for a few outliers. Notably, Japan, Singapore, Netherlands, and Argentina experienced an increase in their inflation rates.

Source:https://tradingeconomics.com/country-list/inflation-rate