Screens · Inflation
Hyperinflationary economies: three-year cumulative inflation
4 countries have cumulative inflation above 100% over the last three years: Argentina (501%), Iran (254%), Turkey (158%) and Malawi (106%). 4 more are between 70% and 100%: Haiti (98%), Nigeria (88%), Lebanon (80%) and Burundi (72%).
| # | Country | 3-year cumulative | Year over year | Against the 100% line | Print month |
|---|---|---|---|---|---|
| 1 | Argentina | 501% | 33.5% | Above 100% | Aug 2026 |
| 2 | Iran | 254% | 89.0% | Above 100% | Aug 2026 |
| 3 | Turkey | 158% | 29.7% | Above 100% | Sep 2026 |
| 4 | Malawi | 106% | 20.0% | Above 100% | Aug 2026 |
| 5 | Haiti | 98% | 17.0% | 70–100% | Aug 2026 |
| 6 | Nigeria | 88% | 15.4% | 70–100% | Aug 2026 |
| 7 | Lebanon | 80% | 16.7% | 70–100% | Aug 2026 |
| 8 | Burundi | 72% | 7.5% | 70–100% | Sep 2026 |
| 9 | Angola | 67% | 8.4% | Below 70% | Sep 2026 |
| 10 | Egypt | 62% | 14.5% | Below 70% | Aug 2026 |
| 11 | Ethiopia | 53% | 15.1% | Below 70% | Aug 2026 |
| 12 | Sierra Leone | 53% | 15.7% | Below 70% | Aug 2026 |
| 13 | Bolivia | 41% | 9.2% | Below 70% | Jun 2026 |
| 14 | Ghana | 40% | 5.2% | Below 70% | Sep 2026 |
| 15 | Zambia | 38% | 6.2% | Below 70% | Aug 2026 |
| 16 | Laos | 37% | 7.8% | Below 70% | Sep 2026 |
| 17 | Ukraine | 34% | 10.0% | Below 70% | Sep 2026 |
| 18 | Kazakhstan | 34% | 9.2% | Below 70% | Sep 2026 |
| 19 | Suriname | 31% | 7.3% | Below 70% | Sep 2026 |
| 20 | Mongolia | 31% | 12.9% | Below 70% | Sep 2026 |
| 21 | Bangladesh | 29% | 8.3% | Below 70% | Sep 2026 |
| 22 | Uzbekistan | 28% | 6.2% | Below 70% | Aug 2026 |
| 23 | Rwanda | 27% | 20.1% | Below 70% | Sep 2026 |
| 24 | Russia | 25% | 6.3% | Below 70% | Aug 2026 |
| 25 | Kyrgyzstan | 25% | 11.0% | Below 70% | Jun 2026 |
| 26 | Pakistan | 25% | 10.3% | Below 70% | Sep 2026 |
| 27 | Romania | 23% | 6.2% | Below 70% | Aug 2026 |
| 28 | Liberia | 23% | 5.0% | Below 70% | Jun 2026 |
| 29 | Belarus | 19% | 4.3% | Below 70% | Sep 2026 |
| 30 | Colombia | 18% | 6.3% | Below 70% | Sep 2026 |
| 31 | Tunisia | 18% | 5.6% | Below 70% | Sep 2026 |
| 32 | Jamaica | 17% | 8.6% | Below 70% | Sep 2026 |
| 33 | Honduras | 17% | 6.5% | Below 70% | Jun 2026 |
| 34 | Iceland | 16% | 5.6% | Below 70% | Aug 2026 |
| 35 | Mozambique | 16% | 6.5% | Below 70% | Aug 2026 |
| 36 | Kenya | 16% | 6.8% | Below 70% | Sep 2026 |
| 37 | Botswana | 15% | 9.3% | Below 70% | Aug 2026 |
| 38 | Uruguay | 15% | 4.5% | Below 70% | Aug 2026 |
| 39 | Brazil | 15% | 4.6% | Below 70% | Sep 2026 |
| 40 | Lesotho | 14% | 2.6% | Below 70% | Aug 2026 |
| 41 | Mauritania | 14% | 9.0% | Below 70% | Aug 2026 |
| 42 | Chile | 13% | 4.1% | Below 70% | Sep 2026 |
| 43 | Mauritius | 13% | 5.1% | Below 70% | Sep 2026 |
| 44 | Namibia | 13% | 4.4% | Below 70% | Jul 2026 |
| 45 | Bulgaria | 13% | 5.7% | Below 70% | Sep 2026 |
| 46 | Dominican Republic | 13% | 5.1% | Below 70% | Sep 2026 |
| 47 | Somalia | 12% | 6.7% | Below 70% | Jul 2026 |
| 48 | Mexico | 12% | 3.5% | Below 70% | Sep 2026 |
| 49 | Estonia | 12% | 3.5% | Below 70% | Sep 2026 |
| 50 | South Africa | 12% | 4.5% | Below 70% | Sep 2026 |
| 51 | Uganda | 12% | 4.6% | Below 70% | Sep 2026 |
| 52 | Algeria | 12% | 8.3% | Below 70% | Aug 2026 |
| 53 | Montenegro | 12% | 5.2% | Below 70% | Sep 2026 |
| 54 | Vietnam | 12% | 5.1% | Below 70% | Sep 2026 |
| 55 | Georgia | 11% | 5.6% | Below 70% | Sep 2026 |
| 56 | Guyana | 11% | 3.6% | Below 70% | Aug 2026 |
| 57 | Tajikistan | 11% | 4.1% | Below 70% | Jul 2026 |
| 58 | Tanzania | 11% | 4.3% | Below 70% | Aug 2026 |
| 59 | Poland | 11% | 3.2% | Below 70% | Aug 2026 |
| 60 | Fiji | 11% | 6.1% | Below 70% | Jun 2026 |
| 61 | Philippines | 11% | 7.2% | Below 70% | Sep 2026 |
| 62 | Croatia | 11% | 4.7% | Below 70% | Sep 2026 |
| 63 | Bosnia and Herzegovina | 11% | 4.9% | Below 70% | Aug 2026 |
| 64 | United Kingdom | 11% | 3.7% | Below 70% | Sep 2026 |
| 65 | Netherlands | 11% | 3.4% | Below 70% | Sep 2026 |
| 66 | Paraguay | 10% | 1.7% | Below 70% | Sep 2026 |
| 67 | Norway | 10% | 3.4% | Below 70% | Sep 2026 |
| 68 | Belgium | 10% | 4.7% | Below 70% | Sep 2026 |
| 69 | Greece | 10% | 5.0% | Below 70% | Sep 2026 |
| 70 | India | 10% | 4.4% | Below 70% | Jul 2026 |
| 71 | Slovakia | 10% | 3.4% | Below 70% | Jun 2026 |
| 72 | Austria | 10% | 3.6% | Below 70% | Sep 2026 |
| 73 | Spain | 10% | 4.9% | Below 70% | Sep 2026 |
| 74 | North Macedonia | 10% | 2.6% | Below 70% | Aug 2026 |
| 75 | United States | 10% | 3.7% | Below 70% | Sep 2026 |
| 76 | Republic of Congo | 9% | 4.4% | Below 70% | Aug 2026 |
| 77 | Hungary | 9% | 1.5% | Below 70% | Sep 2026 |
| 78 | Armenia | 9% | 4.3% | Below 70% | Sep 2026 |
| 79 | Latvia | 9% | 3.2% | Below 70% | Sep 2026 |
| 80 | Belize | 9% | 4.3% | Below 70% | Aug 2026 |
| 81 | Guatemala | 8% | 4.7% | Below 70% | Sep 2026 |
| 82 | Portugal | 8% | 3.0% | Below 70% | Jul 2026 |
| 83 | Indonesia | 8% | 3.3% | Below 70% | Sep 2026 |
| 84 | Israel | 8% | 1.6% | Below 70% | Sep 2026 |
| 85 | Japan | 8% | 2.2% | Below 70% | Sep 2026 |
| 86 | Czechia | 8% | 2.5% | Below 70% | Sep 2026 |
| 87 | Ireland | 8% | 4.1% | Below 70% | Sep 2026 |
| 88 | Albania | 8% | 3.4% | Below 70% | Aug 2026 |
| 89 | Germany | 8% | 3.3% | Below 70% | Sep 2026 |
| 90 | Canada | 7% | 3.1% | Below 70% | Sep 2026 |
| 91 | Luxembourg | 7% | 2.9% | Below 70% | Sep 2026 |
| 92 | Mali | 7% | 3.4% | Below 70% | Sep 2026 |
| 93 | Peru | 7% | 4.1% | Below 70% | Aug 2026 |
| 94 | Benin | 7% | 1.9% | Below 70% | Sep 2026 |
| 95 | Slovenia | 7% | 3.3% | Below 70% | Sep 2026 |
| 96 | South Korea | 7% | 2.9% | Below 70% | Sep 2026 |
| 97 | Maldives | 6% | 0.8% | Below 70% | Aug 2026 |
| 98 | Malta | 6% | 2.5% | Below 70% | Jun 2026 |
| 99 | Iraq | 6% | 3.3% | Below 70% | Aug 2026 |
| 100 | Denmark | 6% | 2.2% | Below 70% | Sep 2026 |
| 101 | Burkina Faso | 6% | 3.6% | Below 70% | Sep 2026 |
| 102 | Saudi Arabia | 6% | 1.9% | Below 70% | Sep 2026 |
| 103 | Jordan | 6% | 2.7% | Below 70% | Sep 2026 |
| 104 | France | 5% | 3.1% | Below 70% | Sep 2026 |
| 105 | Hong Kong | 5% | 1.6% | Below 70% | Aug 2026 |
| 106 | Kuwait | 5% | 0.0% | Below 70% | Jun 2026 |
| 107 | Malaysia | 5% | 1.8% | Below 70% | Sep 2026 |
| 108 | Oman | 5% | 3.4% | Below 70% | Aug 2026 |
| 109 | Togo | 5% | 2.4% | Below 70% | Sep 2026 |
| 110 | Singapore | 5% | 2.2% | Below 70% | Sep 2026 |
| 111 | Cabo Verde | 5% | 0.8% | Below 70% | Aug 2026 |
| 112 | El Salvador | 5% | 3.6% | Below 70% | Sep 2026 |
| 113 | Bahamas | 4% | 3.6% | Below 70% | Jul 2026 |
| 114 | Côte d'Ivoire | 4% | 1.6% | Below 70% | Sep 2026 |
| 115 | Barbados | 4% | 1.6% | Below 70% | Jun 2026 |
| 116 | Finland | 4% | 2.5% | Below 70% | Sep 2026 |
| 117 | Cyprus | 4% | 3.7% | Below 70% | Sep 2026 |
| 118 | Sweden | 4% | 1.1% | Below 70% | Sep 2026 |
| 119 | Sri Lanka | 3% | 8.0% | Below 70% | Aug 2026 |
| 120 | Bahrain | 3% | 2.9% | Below 70% | Aug 2026 |
| 121 | Senegal | 3% | 1.0% | Below 70% | Sep 2026 |
| 122 | Trinidad and Tobago | 2% | 0.6% | Below 70% | Jul 2026 |
| 123 | Switzerland | 2% | 1.0% | Below 70% | Sep 2026 |
| 124 | Thailand | 2% | 2.5% | Below 70% | Aug 2026 |
| 125 | Morocco | 2% | 0.5% | Below 70% | Sep 2026 |
| 126 | Chad | 2% | -2.0% | Below 70% | Aug 2026 |
| 127 | Timor-Leste | 2% | -0.1% | Below 70% | Sep 2026 |
| 128 | China | 1% | 0.9% | Below 70% | Sep 2026 |
| 129 | Brunei | -1% | -0.1% | Below 70% | Sep 2026 |
| 130 | Niger | -2% | 1.3% | Below 70% | Sep 2026 |
| 131 | Costa Rica | -9% | -8.1% | Below 70% | Sep 2026 |
| 132 | Ecuador | -10% | -11.9% | Below 70% | Jul 2026 |
Coverage: 134 countries have a monthly consumer price index with a print in the last 180 days. 10 more are held back today because their newest figure failed a check: an index rebased inside the window, a missing month a year back, or a print far outside the IMF's annual figures. A rebased index read naively publishes a price move that never happened, so those are left out rather than shown.
Not covered: 27 countries with no current monthly index
Afghanistan, Azerbaijan, Cameroon, Central African Republic, DR Congo, Cuba, Eritrea, Eswatini, Gabon, Gambia, Kosovo, Madagascar, Myanmar, Nepal, New Zealand, Papua New Guinea, Qatar, Serbia, South Sudan, Sudan, Syria, Turkmenistan, United Arab Emirates, Vanuatu, Venezuela, Yemen, Zimbabwe. These publish no monthly index through ILOSTAT, or stopped more than six months ago. Absence from the table says nothing about their inflation; several would rank near the top.
Questions
Which countries are hyperinflationary?
4 countries have cumulative inflation above 100% over the last three years: Argentina (501%), Iran (254%), Turkey (158%) and Malawi (106%). That is the quantitative test only. Several countries that appear on audit-firm lists publish no current monthly index and are named under "Not covered" below.
What is the 100% rule in IAS 29?
IAS 29 lists characteristics of a hyperinflationary economy. One of them is that cumulative inflation over three years is approaching, or exceeds, 100%, which is about 26% a year compounded. It is one indicator among several, and whether to apply the standard is a judgement for the reporting entity and its auditor. US GAAP (ASC 830) uses a similar three-year, 100% test for a highly inflationary economy.
How is three-year cumulative inflation calculated here?
It is the country's consumer price index in its newest month divided by the index 36 months earlier, minus one. Each figure is computed from the country's national consumer price index as republished by ILOSTAT, the International Labour Organization's statistics service, under CC BY 4.0. No figure is shown where the index was rebased inside the window or the series is shorter than three years.
Is this an official list?
No. It is arithmetic on published price indices, recomputed every day. It is not accounting advice and not a determination under IAS 29 or ASC 830.
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