Monthly headline consumer price index 2019-2024, by region

In August 2024, the global consumer price index, excluding the United States, stood at 187.7, compared to 160.1 for the U.S. The data for the world and emerging economies are distorted by hyperinflation in Venezuela and may not accurately reflect the inflation rate of other countries. However, Russia's war in Ukraine caused a surge in prices globally through 2022 and 2023.

The headline consumer price index tracks the changes in the price level of a basket of goods and services purchased by households.

Economic challenges in Argentina

While CPI increases have been significant globally, certain economies have experienced more dramatic increases than others. Argentina is a notable case of these increases, as the CPI has increased more than 100 percent between 2020 and 2023. Currently, most of the Argentinian public considers inflation and low wages to be the biggest challenges facing the country.

Consumer responses to price increases

Globally, consumers are coping with price increases in many ways. In a May 2023 survey, 68 percent respondents from over 14 countries indicated they were more conscious about prices than previously. In another survey from earlier that year, over 40 percent of respondents indicated they were most concerned about inflation and had changed their consumption habits as a result.