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Expand chart
Data: OECD, reproduced from Pew Research Center; Chart: Axios Visuals

Inflation in the U.S. has risen during the past two years at the third-fastest rate out of 46 Organization for Economic Cooperation and Development and other economically significant countries.

The big picture: Rising prices aren’t just a problem in the United States. Thirty-nine of the countries analyzed by the Pew Research Center saw inflation increase between the third quarter of 2019 and the third quarter of this year.

  • Many countries that are members of the OECD have followed a similar trend: Low inflation before COVID-19, followed by flat or falling inflation in the middle of the pandemic.
  • Then, in the second and third quarters of this year, inflation started rising as nations began to resume normal life, according to Pew.

By the numbers: While the U.S. has seen its inflation rate rise faster than all but two countries analyzed, its absolute annual inflation rate is the eighth highest of the group.

  • And while inflation has declined since 2019, Argentina is still plagued by the highest inflation rate of any other country at 52%.
  • It's followed by Turkey (19%), which saw a sharp rise in inflation compared to two years ago.
  • Meanwhile, Japan has had the opposite problem — struggling to deal with prices that just keep falling. Consumer prices for this quarter fell 0.2% compared to last year.

Editor's note: The story has been updated to clarify that 39 of the total 46 countries saw inflation rise between 2019 and 2021 — not 39 in addition to the U.S.

Go deeper

Nathan Bomey, author of Closer
Jan 14, 2022 - Economy & Business

Even banks can't outrun inflation

Photo: Victor J. Blue/Bloomberg via Getty Images

For the nation’s largest banks, inflation may be too much of a good (for them) thing.

Driving the news: JPMorgan Chase and Citigroup shares fell today — despite delivering solid quarterly revenue and profit — amid concerns that the banks won’t be able to outrun inflation.

Rising mortgage rates could slow house price surge

Chart: Axios Visuals

Mortgage rates have jumped to their highest level since early 2020.

Why it matters: The rising cost of home loans could slow the booming American market for residential real estate.

Corporate America's incredibly profitable pandemic

Expand chart
Data: S&P Dow Jones Indices; Chart: Thomas Oide/Axios

Companies are about to blast out a blizzard of quarterly profit and sales numbers over the next few weeks, as the carnival of Q4 corporate results kicks off.

Driving the news: Large banks will open the floodgates, issuing reports early Friday that mark the unofficial start of earnings season on Wall Street.