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Upper middle income Countries Ranked by Inflation rate (2025)

Inflation rate: each country's latest value (2020–2025), ranked from highest to lowest. Source: The World Bank (CC BY 4.0).

Summary

Argentina ranks #1 with 219.9% per year (consumer prices) (2024). That is 5.2 times Iran, Islamic Rep. in second place (42.2% per year (consumer prices)). The top five are Argentina, Iran, Islamic Rep., Türkiye, Ukraine and Kazakhstan. The median across all 55 is 3.31% per year (consumer prices); Sri Lanka is last at -4.76% per year (consumer prices). Argentina's figure has risen 541% since 2018 (34.3% per year (consumer prices) to 219.9% per year (consumer prices) in 2024).

#1
Argentina · 219.9% per year (consumer prices)
Median
3.31% per year (consumer prices)
Coverage
55 Upper middle income countries
Data year
2025
Last updated
2026-11-14
Top 10: Inflation rateBar chart of the top 10: 1. Argentina 219.9; 2. Iran, Islamic Rep. 42.2; 3. Türkiye 34.9; 4. Ukraine 12.7; 5. Kazakhstan 11.4; 6. Suriname 9.21; 7. Mongolia 8.61; 8. Moldova 7.76; 9. Belarus 6.6; 10. Azerbaijan 5.62.Argentina219.9Iran, Islamic Rep.42.2Türkiye34.9Ukraine12.7Kazakhstan11.4Suriname9.21Mongolia8.61Moldova7.76Belarus6.6Azerbaijan5.62
Top 10: Inflation rate (% per year (consumer prices)). Bar chart of the top 10: 1. Argentina 219.9; 2. Iran, Islamic Rep. 42.2; 3. Türkiye 34.9; 4. Ukraine 12.7; 5. Kazakhstan 11.4; 6. Suriname 9.21; 7. Mongolia 8.61; 8. Moldova 7.76; 9. Belarus 6.6; 10. Azerbaijan 5.62.
Inflation rate over time, top 5Argentina: 34.3 in 2018 to 219.9 in 2024; Iran, Islamic Rep.: 11.3 in 2001 to 42.2 in 2025; Türkiye: 54.4 in 2001 to 34.9 in 2025; Ukraine: 12 in 2001 to 12.7 in 2025; Kazakhstan: 8.35 in 2001 to 11.4 in 2025.-0.23954.8109.8164.9219.9200120132025ArgentinaIran, Islamic Rep.TürkiyeUkraineKazakhstan
Inflation rate over time, top 5 (% per year (consumer prices)). Argentina: 34.3 in 2018 to 219.9 in 2024; Iran, Islamic Rep.: 11.3 in 2001 to 42.2 in 2025; Türkiye: 54.4 in 2001 to 34.9 in 2025; Ukraine: 12 in 2001 to 12.7 in 2025; Kazakhstan: 8.35 in 2001 to 11.4 in 2025.

Full ranking

Upper middle income Countries Ranked by Inflation rate, 2025
RankCountryInflation rate (% per year (consumer prices))Year
1Argentina219.92024
2Iran, Islamic Rep.42.22025
3Türkiye34.92025
4Ukraine12.72025
5Kazakhstan11.42025
6Suriname9.212025
7Mongolia8.612025
8Moldova7.762025
9Belarus6.62025
10Azerbaijan5.622025
11Tonga5.592025
12Micronesia, Fed. Sts.5.412022
13Colombia5.142025
14Brazil5.022025
15North Macedonia4.072025
16Paraguay4.042025
17Maldives4.012025
18Jamaica42025
19Bosnia and Herzegovina3.982025
20Montenegro3.92025
21Serbia3.892025
22Dominican Republic3.872025
23Georgia3.872025
24Kosovo3.862025
25Mexico3.812025
26Mauritius3.672025
27Viet Nam3.312025
28Armenia3.312025
29South Africa3.212025
30Equatorial Guinea2.922024
31Botswana2.662025
32Dominica2.532025
33Cabo Verde2.342025
34Samoa2.212025
35Albania2.152025
36St. Lucia2.032025
37Indonesia1.912025
38Libya1.842025
39Gabon1.772025
40Jordan1.772025
41Philippines1.662025
42Peru1.532025
43Guatemala1.492025
44Algeria1.422025
45Malaysia1.382025
46Belize1.062025
47St. Vincent and the Grenadines0.8152025
48Ecuador0.712025
49Grenada0.612025
50Iraq0.3032025
51El Salvador0.2582025
52China0.062025
53Thailand-0.1342025
54Fiji-1.382025
55Sri Lanka-4.762025

About the top 10

#1 Argentina

Argentina ranks #1 on this list with 219.9% per year (consumer prices) (2024).

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

#2 Iran, Islamic Rep.

Iran, Islamic Rep. ranks #2 on this list with 42.2% 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

#7 Mongolia

Mongolia ranks #7 on this list with 8.61% per year (consumer prices).

Capital
Ulaanbaatar
Continent
Asia
Income group
Upper middle income
Population
3.57 million people (2025)
GDP
US$25.37 billion (2025)
GDP per person
US$7,108 (2025)
Life expectancy
72.4 years (2024)
Urban population
71.1% of population (2025)

Largest cities: Ulaanbaatar.

Also ranks #3 in mineral rents share of gdp · #4 in bank branches per 100,000 adults · #5 in hospital beds per 10,000.

Full country profile Weather in Ulaanbaatar (Purr Weather)

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: each country's latest value (2020–2025), 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.