Global Inflation Rollercoaster

In European countries and the United States the average inflation rates have been 0.7% and 8% whereas Italy has been experiencing the lowest rate at 0.76%, that of Serbia at 7.6%, and Russia at 7.4%. 

In the United States December's inflation exceeded forecasts standing at 3.4%. Energy prices decreased by 2%, while the growth in food prices slowed from 2.9% to 2.7%.

The inflation in the Eurozone has reversed course again after its December 0.1 percentage point increase. The main factors were the slowing growth of core inflation to its lowest since March 2022 (3.3%) and a deceleration in the rise of prices for food, alcohol, and tobacco products (5.7% compared to 6.1%).

Turkey continues to lead among neighboring countries with its annual inflation rate of 65% in January. 

High inflation is also observed in Iran (39%). Global leaders in inflation remain to be Argentina (211%) and Lebanon where inflation decreased from 212% in November to 192%.

Kazakhstan has one of the highest inflation rates among CIS countries. 

In neighboring Azerbaijan and Uzbekistan price growth stood at 8.8% and 8.6% respectively. 

Russia sees a slight decrease in annual inflation from 7.5% in November to 7.4% in December. The slowdown is primarily in the growth of service prices (8.3% vs. 10.6%), but there is an acceleration in food (8.2% vs. 7.2%) and non-food goods (6% vs. 5.6%).

While inflation remains high in many countries China still experiences negative price growth with December's rate at -0.8% following -0.3% in November. 

This marks the most negative reading in 14 years and the fourth consecutive month of decline. Food prices showed a record decrease from 3.7% to 5.9%, while non-food goods also decreased by 0.4% (compared to 0.5% in December).