World inflation rate for 2018 was 2.51%, a 0.34% increase from 2017. World inflation rate for 2017 was 2.18%, a 0.75% increase from 2016. World inflation rate for 2016 was 1.43%, a 0.02% increase from 2015. World inflation rate for 2015 was 1.40%, a 0.83% decline from 2014. Inflation rate is defined as the annual percent change in consumer prices compared with the previous year's consumer prices. The list is based on the CIA World Factbook data [1] unless otherwise indicated, and is updated according to the statistical updates by respective cities. If you were to calculate the average for the year, the average would be -5.1%. This gives you the idea that prices had fallen over the year when they had actually risen. The table below compares the inflation rate (December end-of-year) with the fed funds rate , the phase of the business cycle, and the significant events influencing inflation.