The bar graph illustrates the inflation rates of different countries from 2017 to 2023.
Overall, the rate of inflation increased in all five countries, albeit at varying rates, with Pakistan seeing the most pronounced rise by the end of the period. It is also clear that Uzbekistan and Pakistan had higher inflation figures than the remaining countries.
Focusing on developing countries, Pakistan, Uzbekistan and India, they experienced different levels of upward trend. Pakistan, a country with the highest inflation levels among the five, started the period with just above 10%, yet it increased to roughly 14% in 2019. By 2021, the figure fell by 5 percentage points, before dramatically rising to just under 30% in 2023. Uzbekistan had a similar trajectory too, but with lower rates. From 2017 to 2021, the inflation rate changed insignificantly, accounting for around 8%, yet it also recorded a noticeable increase to 15% by 2023. Meanwhile, India had lower rates, merely 5%, in the initial years, after which it grew to approximately 8% in 2023.
As for the developed countries, the USA experienced a constant upward trend, rising from just under 5% to about 13% between 2017 and 2023. Finally, the rates of inflation in the UK – a country with the lowest figures – started the period with around 4%, a figure that then declined by 1 percentage point, before going up to roughly 7% in the final year.