Screens · Inflation
Countries with the lowest inflation rate
Among the 134 countries with a current monthly CPI print, prices are rising slowest in Kuwait (0.0% in the year to June 2026), Morocco (0.5% in the year to September 2026) and Trinidad and Tobago (0.6% in the year to July 2026). 19 countries are below 2%. Countries where prices are falling are on the deflation screen.
| # | Country | Inflation, year over year | 3-year cumulative | Print month |
|---|---|---|---|---|
| 1 | Kuwait | 0.0% | 5% | Jun 2026 |
| 2 | Morocco | 0.5% | 2% | Sep 2026 |
| 3 | Trinidad and Tobago | 0.6% | 2% | Jul 2026 |
| 4 | Maldives | 0.8% | 6% | Aug 2026 |
| 5 | Cabo Verde | 0.8% | 5% | Aug 2026 |
| 6 | China | 0.9% | 1% | Sep 2026 |
| 7 | Switzerland | 1.0% | 2% | Sep 2026 |
| 8 | Senegal | 1.0% | 3% | Sep 2026 |
| 9 | Sweden | 1.1% | 4% | Sep 2026 |
| 10 | Niger | 1.3% | -2% | Sep 2026 |
| 11 | Hungary | 1.5% | 9% | Sep 2026 |
| 12 | Côte d'Ivoire | 1.6% | 4% | Sep 2026 |
| 13 | Barbados | 1.6% | 4% | Jun 2026 |
| 14 | Israel | 1.6% | 8% | Sep 2026 |
| 15 | Hong Kong | 1.6% | 5% | Aug 2026 |
| 16 | Paraguay | 1.7% | 10% | Sep 2026 |
| 17 | Malaysia | 1.8% | 5% | Sep 2026 |
| 18 | Saudi Arabia | 1.9% | 6% | Sep 2026 |
| 19 | Benin | 1.9% | 7% | Sep 2026 |
| 20 | Denmark | 2.2% | 6% | Sep 2026 |
| 21 | Singapore | 2.2% | 5% | Sep 2026 |
| 22 | Japan | 2.2% | 8% | Sep 2026 |
| 23 | Togo | 2.4% | 5% | Sep 2026 |
| 24 | Malta | 2.5% | 6% | Jun 2026 |
| 25 | Czechia | 2.5% | 8% | Sep 2026 |
| 26 | Finland | 2.5% | 4% | Sep 2026 |
| 27 | Thailand | 2.5% | 2% | Aug 2026 |
| 28 | Lesotho | 2.6% | 14% | Aug 2026 |
| 29 | North Macedonia | 2.6% | 10% | Aug 2026 |
| 30 | Jordan | 2.7% | 6% | Sep 2026 |
| 31 | South Korea | 2.9% | 7% | Sep 2026 |
| 32 | Bahrain | 2.9% | 3% | Aug 2026 |
| 33 | Luxembourg | 2.9% | 7% | Sep 2026 |
| 34 | Portugal | 3.0% | 8% | Jul 2026 |
| 35 | France | 3.1% | 5% | Sep 2026 |
| 36 | Canada | 3.1% | 7% | Sep 2026 |
| 37 | Latvia | 3.2% | 9% | Sep 2026 |
| 38 | Poland | 3.2% | 11% | Aug 2026 |
| 39 | Germany | 3.3% | 8% | Sep 2026 |
| 40 | Iraq | 3.3% | 6% | Aug 2026 |
| 41 | Indonesia | 3.3% | 8% | Sep 2026 |
| 42 | Slovenia | 3.3% | 7% | Sep 2026 |
| 43 | Albania | 3.4% | 8% | Aug 2026 |
| 44 | Mali | 3.4% | 7% | Sep 2026 |
| 45 | Netherlands | 3.4% | 11% | Sep 2026 |
| 46 | Oman | 3.4% | 5% | Aug 2026 |
| 47 | Norway | 3.4% | 10% | Sep 2026 |
| 48 | Slovakia | 3.4% | 10% | Jun 2026 |
| 49 | Mexico | 3.5% | 12% | Sep 2026 |
| 50 | Estonia | 3.5% | 12% | Sep 2026 |
| 51 | Austria | 3.6% | 10% | Sep 2026 |
| 52 | El Salvador | 3.6% | 5% | Sep 2026 |
| 53 | Guyana | 3.6% | 11% | Aug 2026 |
| 54 | Bahamas | 3.6% | 4% | Jul 2026 |
| 55 | Burkina Faso | 3.6% | 6% | Sep 2026 |
| 56 | United Kingdom | 3.7% | 11% | Sep 2026 |
| 57 | Cyprus | 3.7% | 4% | Sep 2026 |
| 58 | United States | 3.7% | 10% | Sep 2026 |
| 59 | Australia | 4.0% | — | Aug 2026 |
| 60 | Ireland | 4.1% | 8% | Sep 2026 |
| 61 | Peru | 4.1% | 7% | Aug 2026 |
| 62 | Tajikistan | 4.1% | 11% | Jul 2026 |
| 63 | Chile | 4.1% | 13% | Sep 2026 |
| 64 | Belarus | 4.3% | 19% | Sep 2026 |
| 65 | Belize | 4.3% | 9% | Aug 2026 |
| 66 | Tanzania | 4.3% | 11% | Aug 2026 |
| 67 | Armenia | 4.3% | 9% | Sep 2026 |
| 68 | Republic of Congo | 4.4% | 9% | Aug 2026 |
| 69 | Namibia | 4.4% | 13% | Jul 2026 |
| 70 | India | 4.4% | 10% | Jul 2026 |
| 71 | South Africa | 4.5% | 12% | Sep 2026 |
| 72 | Uruguay | 4.5% | 15% | Aug 2026 |
| 73 | Uganda | 4.6% | 12% | Sep 2026 |
| 74 | Brazil | 4.6% | 15% | Sep 2026 |
| 75 | Guatemala | 4.7% | 8% | Sep 2026 |
| 76 | Belgium | 4.7% | 10% | Sep 2026 |
| 77 | Croatia | 4.7% | 11% | Sep 2026 |
| 78 | Bosnia and Herzegovina | 4.9% | 11% | Aug 2026 |
| 79 | Spain | 4.9% | 10% | Sep 2026 |
| 80 | Liberia | 5.0% | 23% | Jun 2026 |
| 81 | Greece | 5.0% | 10% | Sep 2026 |
| 82 | Vietnam | 5.1% | 12% | Sep 2026 |
| 83 | Mauritius | 5.1% | 13% | Sep 2026 |
| 84 | Dominican Republic | 5.1% | 13% | Sep 2026 |
| 85 | Montenegro | 5.2% | 12% | Sep 2026 |
| 86 | Ghana | 5.2% | 40% | Sep 2026 |
| 87 | Georgia | 5.6% | 11% | Sep 2026 |
| 88 | Iceland | 5.6% | 16% | Aug 2026 |
| 89 | Tunisia | 5.6% | 18% | Sep 2026 |
| 90 | Bulgaria | 5.7% | 13% | Sep 2026 |
| 91 | Fiji | 6.1% | 11% | Jun 2026 |
| 92 | Romania | 6.2% | 23% | Aug 2026 |
| 93 | Uzbekistan | 6.2% | 28% | Aug 2026 |
| 94 | Zambia | 6.2% | 38% | Aug 2026 |
| 95 | Colombia | 6.3% | 18% | Sep 2026 |
| 96 | Russia | 6.3% | 25% | Aug 2026 |
| 97 | Mozambique | 6.5% | 16% | Aug 2026 |
| 98 | Honduras | 6.5% | 17% | Jun 2026 |
| 99 | Somalia | 6.7% | 12% | Jul 2026 |
| 100 | Kenya | 6.8% | 16% | Sep 2026 |
| 101 | Philippines | 7.2% | 11% | Sep 2026 |
| 102 | Suriname | 7.3% | 31% | Sep 2026 |
| 103 | Burundi | 7.5% | 72% | Sep 2026 |
| 104 | Laos | 7.8% | 37% | Sep 2026 |
| 105 | Sri Lanka | 8.0% | 3% | Aug 2026 |
| 106 | Algeria | 8.3% | 12% | Aug 2026 |
| 107 | Bangladesh | 8.3% | 29% | Sep 2026 |
| 108 | Angola | 8.4% | 67% | Sep 2026 |
| 109 | Jamaica | 8.6% | 17% | Sep 2026 |
| 110 | Mauritania | 9.0% | 14% | Aug 2026 |
| 111 | Bolivia | 9.2% | 41% | Jun 2026 |
| 112 | Kazakhstan | 9.2% | 34% | Sep 2026 |
| 113 | Botswana | 9.3% | 15% | Aug 2026 |
| 114 | Ukraine | 10.0% | 34% | Sep 2026 |
| 115 | Pakistan | 10.3% | 25% | Sep 2026 |
| 116 | Kyrgyzstan | 11.0% | 25% | Jun 2026 |
| 117 | Mongolia | 12.9% | 31% | Sep 2026 |
| 118 | Libya | 14.3% | — | Aug 2026 |
| 119 | Egypt | 14.5% | 62% | Aug 2026 |
| 120 | Ethiopia | 15.1% | 53% | Aug 2026 |
| 121 | Nigeria | 15.4% | 88% | Aug 2026 |
| 122 | Sierra Leone | 15.7% | 53% | Aug 2026 |
| 123 | Lebanon | 16.7% | 80% | Aug 2026 |
| 124 | Haiti | 17.0% | 98% | Aug 2026 |
| 125 | Malawi | 20.0% | 106% | Aug 2026 |
| 126 | Rwanda | 20.1% | 27% | Sep 2026 |
| 127 | Turkey | 29.7% | 158% | Sep 2026 |
| 128 | Argentina | 33.5% | 501% | Aug 2026 |
| 129 | Iran | 89.0% | 254% | Aug 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 country has the lowest inflation?
Kuwait (0.0% in the year to June 2026) has the lowest inflation among countries where prices are not falling. Countries with falling prices are listed separately, under deflation.
Is low inflation always good?
Not necessarily. Most inflation-targeting central banks aim for about 2%. Inflation well below target for a long time usually goes with weak demand, and it makes debts harder to carry.
How is the inflation rate on this page calculated?
It is the change in the national consumer price index from the same month a year earlier. 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.
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