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