Driven largely by a sharp rise in energy prices stemming from the Iran war, the median inflation rate across the countries monitored in CFR's Global Inflation Tracker increased to 3.0% in Q1 2026—up from 2.8% the quarter prior. The IMF forecasts a continued rise in global inflation as the supply shock from the war puts further upward pressure on prices, writes expert
@BennSteil.
Explore CFR's Global Inflation Tracker to trace inflation trends in almost 200 countries: