• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Ed Sheeran asked Patriots owner Robert Kraft for $2 million aid donation after Macklemore was dropped from his tour for pro-Palestine comments

2

Meet Warren Buffett's son Howard, a former sheriff, war photographer, and now, Berkshire's new chairman

3

Anthropic billionaire cofounder Jack Clark studied literature, not code—and says liberal arts degrees will win in the AI age

1

Ed Sheeran asked Patriots owner Robert Kraft for $2 million aid donation after Macklemore was dropped from his tour for pro-Palestine comments

2

Meet Warren Buffett's son Howard, a former sheriff, war photographer, and now, Berkshire's new chairman

3

Anthropic billionaire cofounder Jack Clark studied literature, not code—and says liberal arts degrees will win in the AI age
FinanceInflation

U.S. inflation is one of the highest in the world

Marco Quiroz-Gutierrez
By
Marco Quiroz-Gutierrez
Marco Quiroz-Gutierrez
Reporter
Down Arrow Button Icon
Marco Quiroz-Gutierrez
By
Marco Quiroz-Gutierrez
Marco Quiroz-Gutierrez
Reporter
Down Arrow Button Icon
November 25, 2021, 12:48 PM ET
Google source logo
Add Fortune on Google for similar content.

Inflation has taken its toll on much of the world recently, but the United States has stood out as one of the most affected in the last few months.

With a 6.2% annual inflation rate in October, the U.S. is now seeing prices increase at the highest rate in more than 30 years.

According to a study by Pew Research Center, in the third quarter of 2021, the country had the eighth-highest annual inflation rate among 46 countries that were examined. The U.S. also had the third-highest increase in inflation, 3.58 percentage points, between the third quarter of 2019 and the same period this year. It trailed only Brazil and Turkey, both of which have less-developed economies that generally struggle with higher inflation rates more than the U.S.

Americans, especially the poor, have struggled with the effects of inflation as food prices have increased across the board in the run-up to Thanksgiving. Food prices globally are reaching their highest rates in decades, according to the United Nations Food and Agricultural Association. When it comes to other goods, such as semiconductor chips and natural gas, supply chain issues have also worsened the situation, sending prices higher as supply struggles to keep up with demand.

As prices continue to rise, inflation has become a political problem for President Biden. According to the polling company Gallup, 26% of Americans say an economic concern such as unemployment, inflation, or the economy in general is the country’s top problem. Seven percent specifically pointed to inflation as the nation’s most pressing issue.

Many Americans appear to blame President Biden, whose approval rating is underwater in every battleground state. He in turn has made tackling price increases a key part of his agenda, doubling down on efforts to ease supply chain problems, releasing oil reserves, and nominating Jerome Powell to a second term as chair of the Federal Reserve.

Still, despite being an inflation “leader”, the U.S. is far from the only developed economy being affected by it. Both New Zealand and Spain saw inflation rates increase more than 2 percentage points between the third quarter of 2019 and the same period this year.

Subscribe to Fortune Daily to get essential business stories straight to your inbox each morning.

About the Author
Marco Quiroz-Gutierrez
By Marco Quiroz-GutierrezReporter
LinkedIn iconTwitter icon

Role: Reporter
Marco Quiroz-Gutierrez is a reporter for Fortune covering general business news.

See full bioRight Arrow Button Icon

Latest in Finance


Most Popular

Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

    Latest in Finance


    Most Popular

    © 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
    FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.