Inflation Rate (CPI/HICP) by Country

Why compare Inflation Rate (CPI/HICP) across countries?

FX markets do not react to inflation in isolation — they react to what the print implies for the central bank's next move. A hot CPI surprise typically pulls forward rate-hike expectations and lifts the currency on the day; a cold print does the opposite. Persistent above-target inflation forces a hawkish reaction function and structurally supports the currency through wider rate differentials, while disinflation invites cuts and weighs on it.

How to read the country list

Headline figures are usually quoted year-over-year in percent. The level matters less than the gap to the central bank's target and the trajectory: a 3 percent print falling from 4 percent is interpreted very differently from 3 percent rising from 2 percent. Look at this table alongside the policy_rate and core_inflation pages to build a full picture of each currency's monetary backdrop.