Monthly inflation rates in developed and emerging countries 2021-2023

Of the major developed and emerging economies, China was the country with the lowest inflation rate in February 2023, with one percent (compared to the same month of the previous year). On the other end of the spectrum, the inflation rate in Russia stood at 11 percent in the same month. The country's inflation rate increased sharply since the country's President, Vladimir Putin, decided to invade Ukraine and has remained high since, although slowing somewhat in recent months.

The rate of inflation reflects changes in the cost of a specified basket containing a representative selection of goods and services. It is derived from the consumer price index (CPI).