Explore the most comprehensive database
1 000 000
bonds
100 000
stocks
175 910
ETF & Funds
100 000
indices
Track your portfolio in the most efficient way
full data on over 1 000 000 bonds, 100 000 stocks, 100 000 indices, 17 000 ETF and 150 000 Mutual Funds; powerful bond screener; over 350 pricing sources among stock exchanges & OTC market; ratings & financial reports; user-friendly interface; available anywhere via Website, Excel Add-in and Mobile app.
Register
Bond Screener
Cbonds Global Inflation Outlook - January 2026
Executive Summary
The global inflation landscape in January 2026 was characterized by significant divergence among the world's largest economies, breaking the synchronized trends seen in previous quarters. The United States demonstrated continued disinflationary momentum, reporting a headline rate of 2.4%, a decrease of 0.3 percentage points from the prior month. In contrast, price pressures in key European markets were mixed; while France saw inflation suppress rapidly to 0.3%, Germany recorded an uptick to 2.1%, driven by a 0.3 percentage point increase. Emerging markets displayed volatility, most notably in India, where inflation surged by 1.42 percentage points to reach 2.75%. Meanwhile, China skirted the edge of deflation with a printed rate of 0.2%, and Brazil maintained a hawkish stance with a real interest rate of 10.56% to anchor inflation at 4.44%.
Top 10 Largest Economies – Inflation Data
Real Rate is counted as difference between the respective central bank rate and inflation
Africa Inflation Landscape
Outlook Summary
Africa's inflation environment in January 2026 reflected a sharp bifurcation between economies achieving stabilization and those managing volatility. Zimbabwe posted a remarkable adjustment, with inflation settling at 4.1% following a substantial 10.9 percentage point monthly decline, signaling a normalization of price dynamics. Nigeria continued its gradual path toward stability, recording a rate of 15.1% with a high real interest rate of 11.9%. Conversely, inflationary pressures persisted in Rwanda, which saw a 2.3 percentage point rise to 7.5%. Deflationary trends were absent in the major reporting nations for January, though Senegal and the Ivory Coast reported near-flat price growth at 0.4% and 0.3% respectively, reflecting subdued demand pressures in West Africa.
Country Inflation Data
Africa Annual Inflation Rate Change to Previous Month (%). Source: Cbonds
Asia Inflation Landscape
Outlook Summary
The Asian inflation outlook for January 2026 was dominated by extreme disparities in monetary conditions and localized economic shocks. China continued to face disinflationary headwinds, with the consumer price index slowing to 0.2% following a 0.6 percentage point decline. Japan similarly saw inflation cool to 1.5%, moving its real interest rate further into negative territory at -0.75%. A significant divergence was observed in India, where inflation accelerated sharply to 2.75%, moving away from the lower levels of the previous month. In the Middle East, geopolitical and economic factors drove volatility; Palestine recorded a deflationary recovery to -14.4%—a massive statistical shift of 28.5 percentage points from previous lows—while Turkey’s inflation remained elevated at 30.65%, despite a marginal monthly reduction.
Country Inflation Data
Asia Annual Inflation Rate Change to Previous Month (%). Source: Cbonds
North America Inflation Landscape
Outlook Summary
North America began 2026 with inflation largely contained and trending downward across developed markets. The United States and Canada showed high convergence, with the US at 2.4% and Canada at 2.3%, reflecting effective monetary transmission across the region. Mexico diverged slightly from its northern neighbors, recording a 0.1 percentage point increase to reach 3.79%, supported by a positive real rate of 3.21%. In Central America and the Caribbean, economic disparity was evident. Costa Rica faced significant deflationary pressure at -2.54%, while Cuba remained an inflationary outlier at 12.52%, despite a 1.55 percentage point monthly cooling. Panama maintained near-price stability with an inflation rate of just 0.2%.
Country Inflation Data
North America Annual Inflation Rate Change to Previous Month (%). Source: Cbonds
South America Inflation Landscape
Outlook Summary
South America's inflation outlook for January 2026 was defined by the persistence of structural inflation in specific nations contrasted against stabilization elsewhere. Argentina continued to face intensifying price pressures, with inflation rising by 0.9 percentage points to 32.4%, resulting in a negative real rate of -3.4%. Bolivia also remained a concern with high inflation at 19.64%, although it achieved a monthly reduction of 0.76 percentage points. Brazil maintained its rigorous monetary approach, with inflation at 4.44% effectively checked by a double-digit real interest rate. Meanwhile, the Pacific economies showed varied results; Chile saw distinct cooling to 2.8%, while Colombia recorded a slight increase to 5.35%.
Country Inflation Data
South America Annual Inflation Rate Change to Previous Month (%). Source: Cbonds
Europe Inflation Landscape
Outlook Summary
Europe closed January 2026 with a pronounced trend of disinflation in peripheral economies, while core economies showed mixed signals. Austria recorded a dramatic correction, with inflation falling 1.8 percentage points to 2.0%. France and the Netherlands also posted declines, settling at 0.3% and 2.4% respectively. However, the region's largest economy, Germany, defied the broader trend with a 0.3 percentage point rise to 2.1%. Eastern Europe continued to battle higher structural prices, with Romania at 9.6% and Ukraine at 7.4%, though both showed signs of cooling compared to the previous month. Deflationary risks appeared in Finland, which reported a rate of -0.2%, contrasting with the stickier price growth in the United Kingdom at 3.0%.
Country Inflation Data
Europe Annual Inflation Rate Change to Previous Month (%). Source: Cbonds
CIS Inflation Landscape
Outlook Summary
The CIS region demonstrated a complex inflationary environment in January 2026, driven by divergent monetary policies and local economic conditions. Russia reported an inflation rate of 6.0%, marking a 0.4 percentage point increase from the previous month, despite maintaining a high real interest rate of 9.5%. Kazakhstan remained the region's primary inflationary challenge at 12.2%, showing stability with a marginal 0.1 percentage point decline. A significant stabilization occurred in Moldova, where inflation dropped by 2.0 percentage points to 4.8%. Meanwhile, Georgia and Armenia experienced upward pressure, with rates rising to 4.8% and 3.8% respectively, highlighting the uneven impact of regional economic integration.
Country Inflation Data
CIS Annual Inflation Rate Change to Previous Month (%). Source: Cbonds