The rising prices of the various commodity categories in the G7 nations in 2022 reflect the rising inflation rates around the world. The cost of electricity, gas, and other fuels in particular increased dramatically in the second quarter of 2022, with price hikes reaching almost 70% in the United Kingdom and 65% in Italy compared to the same period in 2021. In comparison to 2021, transportation prices increased dramatically across the board in 2022, with the exception of Japan. Through 2022, global inflation rates have been rapidly rising due to Russia’s invasion of Ukraine in February of that year. Here is G7 Countries inflation data by commodities category

G7 Countries inflation numbers As of November 2022

Country G7Food and non-alcoholic beveragesHousing, water, electricity, gas, and other fuelsElectricity, gas, and other fuelsHealthTransportEducationRestaurants and hotels
United Kingdom8.4%8.7%69.6%1.8%14.3%4.5%8.1%
United States11.7%6.44%19.01%2.71%22.12%3.28%8.85%
G7 Countries Inflation Numbers based on commodities category and group 2022 – 2023

G7 Countries Inflation FAQs:

What is the Forecasted inflation for G7 Countries in 2023 ?

Forecasted average inflation is expected to be somewhere around 5% for G7 countries , While US and canada central banks are leading the way for fighting inflation , Europe countries are way behind .

How about G7 inflation vs BRICS countries inflation for 2023 ?

BRICS countries have done better in their war in fighting inflation compared with G7 countries , Average inflation for BRICS countries in 2023 is expected to be between 3-4% in 2023.

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