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Countries Ranked by Inflation rate in 2023

Inflation rate for each country in 2023, ranked from highest to lowest. Source: The World Bank (CC BY 4.0).

Summary

In 2023, Lebanon ranks #1 with 221.3% per year (consumer prices). That is 1.7 times Argentina in second place (133.5% per year (consumer prices)). The top five are Lebanon, Argentina, Türkiye, Suriname and Sierra Leone. The median across all 177 is 5.73% per year (consumer prices); Afghanistan is last at -4.64% per year (consumer prices).

#1
Lebanon · 221.3% per year (consumer prices)
Median
5.73% per year (consumer prices)
Coverage
177 countries
Data year
2023
Last updated
2026-11-14
Top 10: Inflation rateBar chart of the top 10: 1. Lebanon 221.3; 2. Argentina 133.5; 3. Türkiye 53.9; 4. Suriname 51.6; 5. Sierra Leone 47.6; 6. Iran, Islamic Rep. 44.6; 7. Ghana 38.1; 8. Haiti 36.8; 9. Egypt, Arab Rep. 33.9; 10. Lao PDR 31.2.Lebanon221.3Argentina133.5Türkiye53.9Suriname51.6Sierra Leone47.6Iran, Islamic Rep.44.6Ghana38.1Haiti36.8Egypt, Arab Rep.33.9Lao PDR31.2
Top 10: Inflation rate (% per year (consumer prices)). Bar chart of the top 10: 1. Lebanon 221.3; 2. Argentina 133.5; 3. Türkiye 53.9; 4. Suriname 51.6; 5. Sierra Leone 47.6; 6. Iran, Islamic Rep. 44.6; 7. Ghana 38.1; 8. Haiti 36.8; 9. Egypt, Arab Rep. 33.9; 10. Lao PDR 31.2.
Inflation rate over time, top 5Lebanon: 1.2 in 2009 to 221.3 in 2023; Argentina: 34.3 in 2018 to 133.5 in 2023; Türkiye: 64.9 in 1999 to 53.9 in 2023; Suriname: 98.8 in 1999 to 51.6 in 2023; Sierra Leone: 11.7 in 2007 to 47.6 in 2023.-3.7552.5108.8165.1221.3199920112023LebanonArgentinaTürkiyeSurinameSierra Leone
Inflation rate over time, top 5 (% per year (consumer prices)). Lebanon: 1.2 in 2009 to 221.3 in 2023; Argentina: 34.3 in 2018 to 133.5 in 2023; Türkiye: 64.9 in 1999 to 53.9 in 2023; Suriname: 98.8 in 1999 to 51.6 in 2023; Sierra Leone: 11.7 in 2007 to 47.6 in 2023.

Full ranking

Countries Ranked by Inflation rate in 2023, 2023
RankCountryInflation rate (% per year (consumer prices))
1Lebanon221.3
2Argentina133.5
3Türkiye53.9
4Suriname51.6
5Sierra Leone47.6
6Iran, Islamic Rep.44.6
7Ghana38.1
8Haiti36.8
9Egypt, Arab Rep.33.9
10Lao PDR31.2
11Pakistan30.8
12Ethiopia30.2
13Malawi28.8
14Burundi26.9
15Nigeria24.7
16São Tomé and Principe21.3
17Rwanda19.8
18Hungary17.1
19Gambia, The17
20Sri Lanka16.5
21Kazakhstan14.5
22Angola13.6
23Moldova13.4
24Ukraine12.8
25Palau12.8
26Serbia12.4
27Colombia11.7
28Poland11.5
29Vanuatu11.2
30Zambia10.9
31Chad10.8
32Kyrgyz Republic10.8
33Czechia10.7
34Slovak Republic10.5
35Romania10.4
36Mongolia10.3
37Liberia10.1
38Uzbekistan9.96
39Bangladesh9.88
40Madagascar9.87
41Bulgaria9.44
42North Macedonia9.36
43Tunisia9.33
44Algeria9.32
45Kiribati9.28
46Estonia9.15
47Lithuania9.12
48Latvia8.94
49Azerbaijan8.79
50Iceland8.74
51Montenegro8.58
52Sweden8.55
53Timor-Leste8.42
54Nicaragua8.39
55Comoros8.37
56Croatia7.94
57Samoa7.92
58Austria7.81
59Guinea7.81
60Kenya7.67
61Chile7.58
62Slovenia7.45
63Cameroon7.38
64Mozambique7.13
65Nepal7.12
66Guinea-Bissau7.1
67Mauritius7.05
68United Kingdom6.79
69Honduras6.66
70Jamaica6.47
71Peru6.46
72Tonga6.35
73Lesotho6.34
74Ireland6.3
75Finland6.25
76Guatemala6.21
77Bosnia and Herzegovina6.11
78Morocco6.09
79South Africa6.08
80Philippines5.98
81Germany5.95
82Senegal5.94
83San Marino5.93
84Solomon Islands5.89
85Namibia5.88
86West Bank and Gaza5.87
87Uruguay5.87
88Russian Federation5.87
89New Zealand5.73
90India5.65
91Italy5.62
92Australia5.6
93Mexico5.53
94Norway5.5
95Togo5.49
96Uganda5.35
97Malta5.09
98Dominica5.09
99Botswana5.07
100Antigua and Barbuda5.07

Showing the top 100 of 177. Premium downloads the full list as CSV or JSON.

About the top 10

#2 Argentina

Argentina ranks #2 on this list with 133.5% per year (consumer prices).

Capital
Buenos Aires
Continent
South America
Income group
Upper middle income
Population
45.85 million people (2025)
GDP
US$683.1 billion (2025)
GDP per person
US$14,898 (2025)
Life expectancy
77.5 years (2024)
Urban population
92.4% of population (2025)

Largest cities: Greater Buenos Aires, Buenos Aires, Córdoba.

Also ranks #1 in inflation rate · #2 in access to clean cooking fuels · #2 in deposit interest rate.

Full country profile

#6 Iran, Islamic Rep.

Iran, Islamic Rep. ranks #6 on this list with 44.6% per year (consumer prices).

Capital
Tehran
Continent
Asia
Income group
Upper middle income
Population
92.42 million people (2025)
GDP
US$362.68 billion (2025)
GDP per person
US$3,924 (2025)
Life expectancy
77.9 years (2024)
Urban population
77.4% of population (2025)

Largest cities: Tehran, Isfahan, Ahvaz.

Also ranks #1 in refugee population by asylum · #2 in official exchange rate · #4 in gross capital formation rate.

Full country profile

Profile facts: World Bank (CC BY 4.0) and Wikidata (CC0); weather links go to Purr Weather, another ChowChow Labs site.

Related rankings

Source and method

Inflation rate for each country in 2023, ranked from highest to lowest.

Source: The World Bank, indicator FP.CPI.TOTL.ZG. Licence: CC BY 4.0. Retrieved: 2026-11-14.

The World Bank: Inflation, consumer prices (annual %): International Financial Statistics database, International Monetary Fund (IMF) (via World Development Indicators)

Original data provider, as recorded by the World Bank: International Financial Statistics database, International Monetary Fund (IMF).

Values are shown as published. Provider terms: The World Bank. All licences: Sources & licences.