How UK inflation compares to Europe and the rest of the world ...Middle East

The Consumer Prices Index (CPI) measure of inflation is now higher than typical across the European Union, where the average sits at 2.3 per cent.

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The highest in the world can be found in Argentina, where despite falls recently, the rate of price rises still sits at 166 per cent.

Inflation is also higher in the US than it is in the UK. There it sits slightly higher at 2.7 per cent.

Inflation across Europe

Across the European Union and the Euro Area, inflation sits at an average of 2.3 per cent.

The increase in prices was the lowest level since July 2021, and reflected cheaper food, clothing and household goods.

Ukraine’s inflation figure is 11.2 per cent. “This year’s hot summer and fall with long dry spells had an adverse effect on the crop yields, ripening times, quality, and supply of a number of vegetables and fruits,” according to the country’s national bank.

Inflation in the G7

The countries involved are Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.

Within these regions, Italy and France have the joint lowest rate of 1.3 per cent.

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