Inflation rates rose all around the world in 2022 and remained high in 2023, so also in the G7 countries except Japan. However, inflation rates were forecast to slow over the next years. Inflation rates increased sharply all around the world through 2022, spurred by Russia's invasion of Ukraine in February that year. Especially gas and electricity were hit by price increases following the outbreak of the Russia-Ukraine war.
Forecast of annual inflation rates in G7 countries from 2024 to 2029
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IMF. (October 22, 2024). Forecast of annual inflation rates in G7 countries from 2024 to 2029 [Graph]. In Statista. Retrieved February 17, 2025, from https://www.statista.com/statistics/1374823/inflation-g7-forecast/?__sso_cookie_checker=failed
IMF. "Forecast of annual inflation rates in G7 countries from 2024 to 2029." Chart. October 22, 2024. Statista. Accessed February 17, 2025. https://www.statista.com/statistics/1374823/inflation-g7-forecast/?__sso_cookie_checker=failed
IMF. (2024). Forecast of annual inflation rates in G7 countries from 2024 to 2029. Statista. Statista Inc.. Accessed: February 17, 2025. https://www.statista.com/statistics/1374823/inflation-g7-forecast/?__sso_cookie_checker=failed
IMF. "Forecast of Annual Inflation Rates in G7 Countries from 2024 to 2029." Statista, Statista Inc., 22 Oct 2024, https://www.statista.com/statistics/1374823/inflation-g7-forecast/?__sso_cookie_checker=failed
IMF, Forecast of annual inflation rates in G7 countries from 2024 to 2029 Statista, https://www.statista.com/statistics/1374823/inflation-g7-forecast/?__sso_cookie_checker=failed (last visited February 17, 2025)
Forecast of annual inflation rates in G7 countries from 2024 to 2029 [Graph], IMF, October 22, 2024. [Online]. Available: https://www.statista.com/statistics/1374823/inflation-g7-forecast/?__sso_cookie_checker=failed