Study Reveals Turkey as the Country With the Highest Inflation Rate
Merchant Machine’s research found that Turkey has a significantly higher inflation rate than the other countries, which was 19.89% between September and October 2021. Following Turkey is Lithuania, with an inflation rate of 8%. Other countries with high inflation rates include Estonia and Poland.
Overall, the US ranked 10th with an inflation rate of 5.39%. The five countries above the US in this category are Spain, Chile, Latvia, Mexico and Hungary.
Top 10 countries with the highest inflation rate:
| COUNTRY | INFLATION RATE SEP-OCT 2021 (%) | INFLATION INDEX |
| Turkey | 19.89 | 10 |
| Lithuania | 8 | 4.57 |
| Estonia | 7 | 4.11 |
| Poland | 6.8 | 4.02 |
| Hungary | 6.5 | 3.88 |
| Mexico | 6.24 | 3.76 |
| Latvia | 6 | 3.65 |
| Chile | 6 | 3.65 |
| Spain | 5.5 | 3.42 |
| US | 5.39 | 3.37 |
On the other side of the scale, Japan has the lowest inflation, at 0.2%, between September and October 2021.
Coming in second is Switzerland, with an inflation rate of 1.2%. The other countries completing the top five countries with the lowest inflation rates include Portugal, Israel and Costa Rica.
The UK made an appearance in the top 10, ranking 8th among the countries with the lowest inflation rate. The UK has a rate of 2.9%. France, Sweden, Denmark and Australia are the other four countries that complete the top 10.
Top 10 countries with the lowest inflation rate:
| COUNTRY | INFLATION RATE SEP-OCT 2021 (%) | INFLATION INDEX |
| Japan | 0.2 | 1 |
| Switzerland | 1.2 | 1.46 |
| Portugal | 1.8 | 1.73 |
| Israel | 2.5 | 2.05 |
| Costa Rica | 2.5 | 2.05 |
| France | 2.6 | 2.1 |
| Sweden | 2.8 | 2.19 |
| UK | 2.9 | 2.23 |
| Denmark | 3 | 2.28 |
| Australia | 3 | 2.28 |
You can find the complete study here.
