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Visual Capitalist: Inflation Rates and Interest Rate Hikes by Country

Visual Capitalist | Jenna Ross | Jun 24, 2022

interest rates and inflation by country 1 - Visual Capitalist:  Inflation Rates and Interest Rate Hikes by Country

This graphic uses data from central banks and government websites to show how policy interest rates and inflation rates have changed since the start of the year. It was inspired by a chart created by Macrobond.

Rising Interest Rates and Inflation

With inflation rates hitting multi-decade highs in some countries, many central banks have announced interest rate hikes. Below, we show how the inflation rate and policy interest rate have changed for select countries and regions since January 2022. The jurisdictions are ordered from highest to lowest current inflation rate.

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Jurisdiction Jan 2022 Inflation May 2022 Inflation Jan 2022 Policy Rate Jun 2022 Policy Rate
UK 5.50% 9.10% 0.25% 1.25%
U.S. 7.50% 8.60% 0.00%-0.25% 1.50%-1.75%
Euro Area 5.10% 8.10% 0.00% 0.00%
Canada 5.10% 7.70% 0.25% 1.50%
Sweden 3.90% 7.20% 0.00% 0.25%
New Zealand 5.90% 6.90% 0.75% 2.00%
Norway 3.20% 5.70% 0.50% 1.25%
Australia 3.50% 5.10% 0.10% 0.85%
Switzerland 1.60% 2.90% -0.75% -0.25%
Japan 0.50% 2.50% -0.10% -0.10%

The Euro area has 3 policy rates; the data above represents the main refinancing operations rate. Inflation data is as of May 2022 except for New Zealand and Australia, where the latest quarterly data is as of March 2022.

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