The inflation rate in the US has been on the rise in recent years, reaching a high of 8.3% in 2022. Inflation pressures are more persistent than previously anticipated, but what is the inflation rate, how is it calculated and how can we rein it in? Inflation has rocked post-pandemic economies throughout the world, resulting in central banks raising interest rates to levels rarely seen in decades.
The global economy was front and centre in 2024, as leaders grappled with challenges like inflation, multiple elections and the Intelligent Age. Inflation is on the increase around the world, with food and energy prices hitting record highs. While inflation is easing in most regions, uncertainty remains elevated and regional growth.
The May 2025 Chief Economists Outlook explores key trends in the global economy, including the latest outlook for growth, inflation, monetary and fiscal policy. Anticipation has grown for an onset of 'stagflation,’ a toxic blend of deteriorating growth and rising inflation, in the US and elsewhere. With inflation rising around the world, major central banks are working to bring prices down and stabilize their economies.
This chart illustrates the rise of inflation for 2020-23.
- What is inflation and how does it affect consumers?.
- How are different economies tackling inflation?
The "what is inflation" topic is still evolving and should be monitored for confirmed changes.
Focus on consistent facts and wait for confirmation from reliable sources before drawing conclusions.
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Watch for official updates, verified data changes, and follow-up statements from primary sources.
Sources
- https://www.weforum.org/stories/2022/11/what-is-inflation-record-prices-cost-living/
- https://www.weforum.org/meetings/world-economic-forum-annual-meeting-2025/sessions/inflation-past-present-and-future/
- https://www.weforum.org/stories/2024/12/economics-stories-growth-inflation-2024/
- https://www.weforum.org/stories/2022/05/inflation-rising-economist-explains/
