G20 Inflation Tracker: June

The G20 is a group of the world’s biggest economies—including countries like the U.S., China, India, Germany, and Brazil. Together, they account for 85% of global GDP and over 75% of international trade, making it crucial to track economic trends within this group.

Changes in inflation across G20 countries can lead to important policy decisions—like raising interest rates or tightening spending—which can have a ripple effect across the global economy. This is especially important now, as the world faces rising uncertainty due to trade tensions, economic slowdowns, and a growing push toward protectionism.

In June 2025, inflation levels across the G20 showed a mixed picture:

Key Highlights:

Argentina continues to face one of the highest inflation rates in the world at 39.4%.While this is the lowest in five years, prices are still rising rapidly. Years of economic mismanagement, heavy government spending, and printing of money have kept inflation high.
Turkey also struggles with high inflation at 35%, driven by the after-effects of the pandemic, high energy costs, and ongoing economic uncertainty.
China, on the other hand, recorded very low inflation—just 0.1% in June. This suggests weak demand in the economy, which is showing signs of a slowdown.

Across the rest of the G20, inflation is more moderate, with most countries seeing price rises between 1% and 4%, pointing to a more stable outlook - at least for now!

Note: Australia and South Africa have not been included due to unavailability of June 2025 CPI data.

Source: National statistics offices of respective countries.

Additional reference source: Financial Times' inflation and interest rate tracker.