Visualized: Global Inflation Projections in 2025 and 2026

Marcus Lu
2025-06-19 10:33:00
www.visualcapitalist.com

Visualized: Global Inflation Projections in 2025 and 2026

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After a global spike in inflation following the COVID-19 pandemic and Russia’s invasion of Ukraine, central banks have worked to cool price growth.

This visualization shows the OECD’s latest inflation projections through 2026, highlighting where price pressures are easing—and where they are still stubbornly high.

Data & Discussion

The data for this visualization comes from the OECD Economic Outlook. 2024 numbers are included in this table for additional context.

Country	2024	2025	2026
Türkiye	58.5%	31.4%	18.5%
Colombia	6.6%	4.7%	4.0%
Iceland	5.9%	3.5%	2.7%
OECD Avg	5.2%	4.2%	3.2%
Mexico	4.7%	3.4%	3.2%
Belgium	4.3%	2.9%	1.8%
Chile	4.3%	4.5%	3.3%
Poland	3.8%	4.1%	2.6%
Estonia	3.7%	4.2%	2.3%
Hungary	3.7%	4.9%	3.6%
Netherlands	3.2%	2.9%	2.5%
Australia	3.2%	2.3%	2.3%
Slovak Republic	3.2%	3.5%	2.5%
Norway	3.2%	3.0%	2.3%
Israel	3.1%	3.2%	2.9%
Greece	3.0%	2.5%	2.0%
New Zealand	2.9%	2.4%	2.1%
Austria	2.9%	3.0%	1.9%
Spain	2.9%	2.4%	1.9%
Sweden	2.8%	1.3%	2.0%
Japan	2.7%	2.8%	2.0%
Portugal	2.7%	2.1%	2.1%
United Kingdom	2.5%	3.1%	2.3%
United States	2.5%	3.2%	2.8%
Germany	2.5%	2.4%	2.1%
Czechia	2.4%	2.4%	2.1%
Canada	2.4%	2.1%	2.1%
S. Korea	2.3%	2.1%	2.0%
France	2.3%	1.2%	1.7%
Luxembourg	2.3%	2.1%	1.9%
Slovenia	2.0%	2.6%	2.3%
Denmark	1.4%	1.9%	1.7%
Latvia	1.3%	3.6%	2.4%
Ireland	1.3%	2.1%	2.0%
Italy	1.1%	2.0%	1.9%
Switzerland	1.1%	0.3%	0.6%
Finland	1.0%	1.8%	1.9%
Lithuania	0.9%	4.0%	2.5%
Costa Rica	-0.4%	1.8%	2.5%

While inflation is projected to fall in most economies, levels vary significantly between countries. Some emerging markets still face double-digit inflation, while others are nearing central bank targets.

Türkiye and Colombia: High Inflation Persists

Türkiye continues to lead OECD countries in projected inflation, with rates expected to hit 31.4% in 2025 and 18.5% in 2026. Colombia also sees above-average rates at 4.7% and 4.0% over the same period.

Turkey’s exceptionally high inflation is largely driven by a sharp depreciation of the Turkish lira, which has amplified the price of imported energy and food.

U.S. Trends

The United States is projected to see inflation at 3.2% in 2025, dipping to 2.8% in 2026.

While this moderation suggests inflationary pressures are easing, the Fed must tread carefully. Its dual mandate of maximum employment and price stability means it will likely maintain higher interest rates into 2025 to ensure inflation expectations remain anchored around the 2% target.

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