Inflation Rate 2004
Inflation rate reflects the annual percentage change in the cost of goods and services, influencing purchasing power.
Interactive Map
Complete Data Rankings
Rank | Actions | ||
|---|---|---|---|
1 |  Dominican Republic | 51.461 % | |
2 |  Angola | 43.542 % | |
3 |  Iraq | 26.962 % | |
4 |  Haiti | 21.032 % | |
5 |  Belarus | 18.108 % | |
6 |  Ghana | 18.043 % | |
7 |  Zambia | 17.968 % | |
8 |  Samoa | 16.313 % | |
9 |  Nigeria | 14.998 % | |
10 |  Iran | 14.762 % | |
11 |  Gambia | 14.207 % | |
12 |  Madagascar | 13.956 % | |
13 |  Jamaica | 13.555 % | |
14 |  Sao Tome and Principe | 13.286 % | |
15 |  Republic of Moldova | 12.524 % | |
16 |  Yemen | 12.515 % | |
17 |  Costa Rica | 12.315 % | |
18 |  Rwanda | 12.251 % | |
19 |  Romania | 11.874 % | |
20 |  Kenya | 11.624 % | |
21 |  Malawi | 11.43 % | |
22 |  Egypt | 11.271 % | |
23 |  Serbia | 11.026 % | |
24 |  Tonga | 10.973 % | |
25 |  Russia | 10.889 % | |
26 |  Laos | 10.462 % | |
27 |  Mauritania | 10.368 % | |
28 |  Suriname | 9.986 % | |
29 |  Sudan | 9.658 % | |
30 |  Uruguay | 9.158 % | |
31 |  Ukraine | 9.048 % | |
32 |  Turkey | 8.598 % | |
33 |  Nicaragua | 8.47 % | |
34 |  Mongolia | 8.241 % | |
35 |  Burundi | 8.176 % | |
36 |  Honduras | 8.114 % | |
37 |  Liberia | 7.829 % | |
38 |  Vietnam | 7.755 % | |
39 |  Bangladesh | 7.588 % | |
40 |  Guatemala | 7.579 % | |
41 |  Sri Lanka | 7.576 % | |
42 |  Slovakia | 7.549 % | |
43 |  Pakistan | 7.445 % | |
44 |  Tajikistan | 7.142 % | |
45 |  Solomon Islands | 6.986 % | |
46 |  Armenia | 6.961 % | |
47 |  Botswana | 6.946 % | |
48 |  Kazakhstan | 6.882 % | |
49 |  Qatar | 6.799 % | |
50 |  Hungary | 6.744 % | |
51 |  Azerbaijan | 6.709 % | |
52 |  Brazil | 6.597 % | |
53 |  Belize | 6.394 % | |
54 |  Latvia | 6.192 % | |
55 |  Bulgaria | 6.147 % | |
56 |  Indonesia | 6.064 % | |
57 |  Colombia | 5.904 % | |
58 |  Georgia | 5.656 % | |
59 |  Lesotho | 5.023 % | |
60 |  Palau | 4.964 % | |
61 |  Philippines | 4.829 % | |
62 |  Tanzania | 4.736 % | |
63 |  Mauritius | 4.71 % | |
64 |  Mexico | 4.688 % | |
65 |  Guyana | 4.668 % | |
66 |  Myanmar | 4.534 % | |
67 |  Comoros | 4.475 % | |
68 |  El Salvador | 4.452 % | |
69 |  Bolivia | 4.437 % | |
70 |  Syrian Arab Republic | 4.433 % | |
71 |  Paraguay | 4.323 % | |
72 |  Cambodia | 4.319 % | |
73 |  Equatorial Guinea | 4.22 % | |
74 |  Namibia | 4.137 % | |
75 |  Kyrgyzstan | 4.111 % | |
76 |  Bhutan | 4.106 % | |
77 |  Congo, Democratic Republic of the | 3.994 % | |
78 |  Algeria | 3.962 % | |
79 |  Seychelles | 3.857 % | |
80 |  China | 3.825 % | |
81 |  India | 3.767 % | |
82 |  Trinidad and Tobago | 3.722 % | |
83 |  Uganda | 3.721 % | |
84 |  Peru | 3.662 % | |
85 |  Tunisia | 3.632 % | |
86 |  Slovenia | 3.593 % | |
87 |  South Korea | 3.591 % | |
88 |  Eswatini | 3.445 % | |
89 |  Poland | 3.383 % | |
90 |  Jordan | 3.362 % | |
91 |  Ethiopia | 3.327 % | |
92 |  Timor-Leste | 3.238 % | |
93 |  Iceland | 3.158 % | |
94 |  Djibouti | 3.122 % | |
95 |  Estonia | 3.048 % | |
96 |  Spain | 3.039 % | |
97 |  State of Palestine | 3.004 % | |
98 |  Saint Vincent and the Grenadines | 2.96 % | |
99 |  Greece | 2.899 % | |
100 |  Nepal | 2.842 % | |
101 |  Fiji | 2.827 % | |
102 |  Malta | 2.791 % | |
103 |  Czech Republic | 2.76 % | |
104 |  Thailand | 2.759 % | |
105 |  Ecuador | 2.743 % | |
106 |  United States | 2.677 % | |
107 |  Aruba | 2.529 % | |
108 |  Congo | 2.43 % | |
109 |  Dominica | 2.394 % | |
110 |  Portugal | 2.365 % | |
111 |  Bahrain | 2.353 % | |
112 |  Australia | 2.343 % | |
113 |  Saint Kitts and Nevis | 2.315 % | |
114 |  Grenada | 2.313 % | |
115 |  New Zealand | 2.29 % | |
116 |  Cyprus | 2.286 % | |
117 |  Albania | 2.28 % | |
118 |  Micronesia (Fed. States of) | 2.277 % | |
119 |  Luxembourg | 2.226 % | |
120 |  Italy | 2.207 % | |
121 |  Ireland | 2.179 % | |
122 |  Papua New Guinea | 2.159 % | |
123 |  France | 2.142 % | |
124 |  Belgium | 2.097 % | |
125 |  Austria | 2.061 % | |
126 |  Croatia | 2.055 % | |
127 |  Antigua and Barbuda | 2.03 % | |
128 |  Canada | 1.857 % | |
129 |  Germany | 1.666 % | |
130 |  Singapore | 1.663 % | |
131 |  Morocco | 1.493 % | |
132 |  Saint Lucia | 1.46 % | |
133 |  Côte d'Ivoire | 1.458 % | |
134 |  San Marino | 1.431 % | |
135 |  Malaysia | 1.421 % | |
136 |  Vanuatu | 1.419 % | |
137 |  Barbados | 1.394 % | |
138 |  United Kingdom | 1.39 % | |
139 |  Curaçao | 1.379 % | |
140 |  Netherlands | 1.264 % | |
141 |  Kuwait | 1.249 % | |
142 |  Lithuania | 1.164 % | |
143 |  Denmark | 1.154 % | |
144 |  Chile | 1.055 % | |
145 |  Bahamas | 0.982 % | |
146 |  China, Macao SAR | 0.981 % | |
147 |  Guinea-Bissau | 0.883 % | |
148 |  Benin | 0.874 % | |
149 |  Brunei Darussalam | 0.814 % | |
150 |  Switzerland | 0.803 % | |
151 |  Oman | 0.625 % | |
152 |  Saudi Arabia | 0.516 % | |
153 |  Senegal | 0.515 % | |
154 |  Panama | 0.475 % | |
155 |  Norway | 0.454 % | |
156 |  Gabon | 0.408 % | |
157 |  Togo | 0.393 % | |
158 |  Sweden | 0.374 % | |
159 |  Niger | 0.263 % | |
160 |  Cameroon | 0.234 % | |
161 |  Finland | 0.187 % | |
162 |  Japan | -0.009 % | |
163 |  China, Hong Kong SAR | -0.275 % | |
164 |  Burkina Faso | -0.4 % | |
165 |  Israel | -0.422 % | |
166 |  North Macedonia | -0.449 % | |
167 |  South Africa | -0.692 % | |
168 |  Kosovo | -1.065 % | |
169 |  Maldives | -1.685 % | |
170 |  Cabo Verde | -1.891 % | |
171 |  Central African Republic | -2.066 % | |
172 |  Libya | -2.198 % | |
173 |  Mali | -3.1 % | |
174 |  Chad | -5.355 % |
Analysis: These countries represent the highest values in this dataset, showcasing significant scale and impact on global statistics.
- #174Chad
- #173Mali
- #172Libya
- #171Central African Republic
- #170Cabo Verde
- #169Maldives
- #168Kosovo
- #167South Africa
- #166North Macedonia
- #165Israel
Context: These countries or territories have the lowest values, often due to geographic size, administrative status, or specific characteristics.
Analysis & Context
In 2004, the Inflation Rate was highest in the Dominican Republic at 51.46%, with a global range from -5.36% to 51.46%. The global average Inflation Rate stood at 5.29%, while the median was 3.59%, reflecting varied economic pressures worldwide.
Extremes in Inflation: Drivers of High and Low Rates
The stark contrast in inflation rates across countries in 2004 highlights diverse economic circumstances. The Dominican Republic led global inflation at 51.46%, driven by economic instability and external debt challenges. Angola followed closely with 43.54%, a result of prolonged civil conflict and its aftermath on the economy. In contrast, countries like Chad and Mali experienced deflation, with rates of -5.36% and -3.10% respectively, potentially due to currency stabilization efforts and agricultural sector performance.
Regional Dynamics and Policy Influences
Regional economic policies significantly impacted inflation rates. In Iraq, the inflation rate was 26.96%, influenced by post-war reconstruction and currency revaluation efforts. In Belarus and Ghana, rates of 18.11% and 18.04% were observed due to economic reforms and commodity price fluctuations. Meanwhile, Libya and Central African Republic had negative inflation rates, suggesting effective monetary policy interventions and stable currency environments.
Year-over-Year Changes: Notable Shifts
Examining year-over-year changes reveals significant shifts in inflation dynamics. The Dominican Republic saw the largest increase, with an inflation rise of 24.01%, reflecting economic volatility. Samoa experienced a dramatic inflation surge of 16.20%, indicating potential fiscal challenges or external economic shocks. Conversely, Angola and Myanmar saw substantial decreases of -54.68% and -32.06% respectively, possibly due to stabilization measures and economic recovery efforts.
Economic Context and Future Implications
The varied inflation rates in 2004 underscore the importance of stable economic policies and the impact of external factors such as conflict and global market trends. For example, Haiti and Nigeria faced inflation rates of 21.03% and 15.00%, influenced by political instability and oil market fluctuations, respectively. These figures emphasize the need for comprehensive economic planning and international cooperation to mitigate inflationary pressures. Understanding these dynamics can guide policymakers in crafting strategies to achieve economic stability and growth.
Frequently Asked Questions About Inflation Rate in 2004
Which country had the highest inflation rate in 2004?
The Dominican Republic had the highest inflation rate in 2004, with a rate of 51.46%.
Which country had the lowest inflation rate in 2004?
Chad had the lowest inflation rate in 2004, with a rate of -5.36%.
What was the average inflation rate across all countries in 2004?
The average inflation rate across all 174 countries in 2004 was 5.29%.
What was the median inflation rate in 2004?
The median inflation rate in 2004 was 3.52%.
Which countries were in the top 3 for inflation rates in 2004?
The top 3 countries for inflation rates in 2004 were the Dominican Republic (51.46%), Angola (43.54%), and Iraq (26.96%).
How many countries had negative inflation rates in 2004?
In 2004, 10 countries had negative inflation rates, with Chad having the lowest at -5.36%.
Insights by country
North Macedonia
In 2004, North Macedonia had an Inflation Rate of -0.448650206551934 %, ranking #166 out of 174 countries. This negative inflation rate positioned North Macedonia below many of its regional peers, indicating a deflationary environment. Contributing factors included a sluggish economy recovering from the impacts of the Balkan conflicts, as well as tight monetary policies aimed at stabilizing the currency and attracting foreign investment.
Azerbaijan
Azerbaijan had an Inflation Rate of 6.70893042797786 % in 2004, ranking #51 out of 174 countries. This rate was relatively moderate compared to some regional neighbors, reflecting a period of economic stabilization post-Soviet Union. Key drivers of this inflation included the country's ongoing transition to a market economy and fluctuations in oil prices, which significantly impacted its economic landscape.
Cameroon
In 2004, Cameroon had an Inflation Rate of 0.233647380067584 %, ranking #160 out of 174 countries. This rate was notably lower than many of its regional neighbors, reflecting a period of relative economic stability. Contributing factors included government policies aimed at maintaining price stability and a focus on agricultural exports, which helped mitigate inflationary pressures in a predominantly agrarian economy.
China
In 2004, China had an Inflation Rate of 3.82463743108159 %, ranking #80 out of 174 countries. This rate was higher than the average inflation rate in many neighboring countries, reflecting the complexities of China's rapidly growing economy. Key drivers of this inflation included robust consumer demand fueled by urbanization and government policies aimed at stimulating growth, alongside rising global commodity prices impacting production costs.
Lithuania
In 2004, Lithuania had an Inflation Rate of 1.16410252104671 %, ranking #142 out of 174 countries. This rate was relatively low compared to the Baltic region, where neighboring Latvia experienced higher inflation during the same period. The stability in Lithuania's inflation rate can be attributed to its cautious monetary policy and efforts to maintain economic stability as it transitioned from a post-Soviet economy.
Sri Lanka
Sri Lanka ranked #41 globally with an inflation rate of 7.57592582995856 % in 2004. This rate was notably higher than the global average, reflecting economic pressures in the region. Contributing factors included ongoing civil conflict, which disrupted economic stability, and rising oil prices that affected transportation and production costs.
Samoa
In 2004, Samoa had an Inflation Rate of 16.3131507905901 %, ranking #8 out of 174 countries. This rate was significantly higher than the global average, reflecting economic challenges faced by the nation. Contributing factors included rising import costs and vulnerabilities in the agricultural sector, which is heavily influenced by climate conditions and natural disasters. Additionally, the economy was adjusting to changes in trade policies and external market fluctuations.
Thailand
In 2004, Thailand had an Inflation Rate of 2.75914926231082 %, ranking #104 out of 174 countries. This rate was relatively low compared to many of its Southeast Asian neighbors, indicating a stable economic environment at the time. Contributing factors to this inflation rate included effective monetary policies and a focus on maintaining price stability amid a recovering economy following the 1997 Asian financial crisis.
Antigua and Barbuda
In 2004, Antigua and Barbuda had an Inflation Rate of 2.03007757853236 %, ranking #127 out of 174 countries. This rate was relatively low compared to many Caribbean nations that faced higher inflation, reflecting a period of economic stability in the region. Contributing factors included a reliance on tourism and foreign investment, which helped stabilize prices despite global economic fluctuations.
Eswatini
In 2004, Eswatini had an Inflation Rate of 3.44533507316614 %, ranking #88 out of 174 countries. This rate was relatively moderate compared to regional neighbors, reflecting a stable economic environment amidst global fluctuations. Key drivers of this inflation rate included the country's reliance on agriculture and its vulnerability to external shocks, such as fluctuations in commodity prices and climatic conditions affecting crop yields.
Data Source
Inflation, consumer prices (annual %)
The World Bank provides data on consumer price inflation, measured as the annual percentage change in the consumer price index. This dataset offers country-level statistics that reflect changes in the cost of living and economic conditions across various nations.
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