In 2026, U.S. inflation is projected to decline to 2.4%, ultimately remaining above the Fed’s target. Many European and Asian countries, meanwhile, are expected to see sub-2% increases in prices. Countries facing instability, like Venezuela and Sudan, will brace for significantly higher price pressures.

This graphic, via Visual Capitalist's Dorothy Neufeld, shows the 2026 inflation forecast for global economies, based on data from the International Monetary Fund.

Below, we show inflation projections for 2026 across 190 economies:

Venezuela continues to face the highest inflation worldwide by a huge margin, with inflation set to increase 682.1% in 2026. (Note these forecasts were released before President Nicolas Maduro’s capture and U.S. plans to take over Venezuelan oil production).

Moreover, conflict-ridden countries including Sudan, Iran, and Myanmar, face inflation rates exceeding 25%.

In the U.S., inflation is expected to trend lower, though several risks could influence the outlook. While tariff front-loading muted inflationary effects in 2025, pass-through effects could meaningfully affect consumer prices in 2026.

Meanwhile, several economies, from Italy and Spain to Senegal and Saudi Arabia are expected to see inflation reach a 2% target.

In contrast, Switzerland and Liechtenstein are projected to see the lowest inflation globally, at 0.6%. For Switzerland, a strong Swiss franc has led import prices to drop, mirroring a trend seen in the past two years.

Additionally, consumer prices in Thailand and China are set to rise just 0.7% amid deflationary pressures.

To learn more about this topic, check out this graphic on interest rate projections across advanced economies.