The U.S. isn’t alone: Over 35 countries hit with inflation spike

Data: OECD, reproduced from Pew Research Center; Chart: Axios Visuals

Inflation in the U.S. has risen during the past two years at the third-fastest rate out of 46 Organization for Economic Cooperation and Development and other economically significant countries.

The big picture: Rising prices aren’t just a problem in the United States. Thirty-nine of the countries analyzed by the Pew Research Center saw inflation increase between the third quarter of 2019 and the third quarter of this year.

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  • Many countries that are members of the OECD have followed a similar trend: Low inflation before COVID-19, followed by flat or falling inflation in the middle of the pandemic.

  • Then, in the second and third quarters of this year, inflation started rising as nations began to resume normal life, according to Pew.

By the numbers: While the U.S. has seen its inflation rate rise faster than all but two countries analyzed, its absolute annual inflation rate is the eighth highest of the group.

  • And while inflation has declined since 2019, Argentina is still plagued by the highest inflation rate of any other country at 52%.

  • It's followed by Turkey (19%), which saw a sharp rise in inflation compared to two years ago.

  • Meanwhile, Japan has had the opposite problem — struggling to deal with prices that just keep falling. Consumer prices for this quarter fell 0.2% compared to last year.

Editor's note: The story has been updated to clarify that 39 of the total 46 countries saw inflation rise between 2019 and 2021 — not 39 in addition to the U.S.

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