Countries with the lowest inflation
Countries ranked by consumer-price inflation in their latest reported year, lowest first (World Bank). Top of the list is Iraq at -12.3% (2024), then Afghanistan (-6.6%) and Cayman Islands (-0.6%). The table ranks the top 50 of 193 countries that report this indicator; the reference year is shown per country.
Source: World Bank Open Data. Data as of June 2026.
Top 50 countries
| # | Country | Inflation (latest yr) | Year |
|---|---|---|---|
| 1 | Iraq | -12.3% | 2024 |
| 2 | Afghanistan | -6.6% | 2024 |
| 3 | Cayman Islands | -0.6% | 2016 |
| 4 | Sri Lanka | -0.4% | 2024 |
| 5 | Costa Rica | -0.4% | 2024 |
| 6 | Brunei Darussalam | -0.4% | 2024 |
| 7 | Nauru | -0.1% | 2012 |
| 8 | St. Lucia | -0.1% | 2024 |
| 9 | China | 0.2% | 2024 |
| 10 | Armenia | 0.3% | 2024 |
| 11 | Seychelles | 0.3% | 2024 |
| 12 | Bahamas, The | 0.4% | 2024 |
| 13 | Tuvalu | 0.5% | 2011 |
| 14 | Trinidad and Tobago | 0.5% | 2024 |
| 15 | New Caledonia | 0.6% | 2016 |
| 16 | Oman | 0.6% | 2024 |
| 17 | Papua New Guinea | 0.6% | 2024 |
| 18 | Macao SAR, China | 0.7% | 2024 |
| 19 | Panama | 0.7% | 2024 |
| 20 | Lithuania | 0.7% | 2024 |
| 21 | Senegal | 0.8% | 2024 |
| 22 | Cambodia | 0.8% | 2024 |
| 23 | El Salvador | 0.9% | 2024 |
| 24 | Bahrain | 0.9% | 2024 |
| 25 | Italy | 1.0% | 2024 |
| 26 | Morocco | 1.0% | 2024 |
| 27 | Cabo Verde | 1.0% | 2024 |
| 28 | Switzerland | 1.1% | 2024 |
| 29 | Grenada | 1.1% | 2024 |
| 30 | Georgia | 1.1% | 2024 |
| 31 | Benin | 1.2% | 2024 |
| 32 | Gabon | 1.2% | 2024 |
| 33 | San Marino | 1.2% | 2024 |
| 34 | Latvia | 1.3% | 2024 |
| 35 | Qatar | 1.3% | 2024 |
| 36 | Thailand | 1.4% | 2024 |
| 37 | Denmark | 1.4% | 2024 |
| 38 | Maldives | 1.4% | 2024 |
| 39 | Barbados | 1.4% | 2024 |
| 40 | Central African Republic | 1.5% | 2024 |
| 41 | Ecuador | 1.5% | 2024 |
| 42 | Jordan | 1.6% | 2024 |
| 43 | Finland | 1.6% | 2024 |
| 44 | Kosovo | 1.6% | 2024 |
| 45 | Malta | 1.7% | 2024 |
| 46 | United Arab Emirates | 1.7% | 2024 |
| 47 | Saudi Arabia | 1.7% | 2024 |
| 48 | Bosnia and Herzegovina | 1.7% | 2024 |
| 49 | Hong Kong SAR, China | 1.7% | 2024 |
| 50 | Rwanda | 1.8% | 2024 |
Source: World Bank Open Data (CC BY 4.0). Data as of June 2026.
Frequently asked questions
Which countries have the lowest inflation?
Iraq leads at -12.3% (2024), followed by Afghanistan (-6.6%) and Cayman Islands (-0.6%). Source: World Bank Open Data, latest available year per country.
How is this ranking calculated?
We rank every country that reports inflation, consumer prices (annual %) in the World Bank Indicators API by its most-recent value (the year is shown for each). Lowest values rank first. Countries with no reported value are excluded.
Other rankings
Last updated: 2026-06-20