HR consulting, data and technology firm AIRINC conducted a pricing survey of a market basket of expatriate goods and services in 109 countries in 2012 to measure inflation in major regions of the world.
In the majority of the countries AIRINC covered, about 60% globally, experienced inflation of less than 5% during 2012.
Many of the highest observed inflations were side effects of other problems, like war, severe drought, economic sanctions, or currency devaluations.
The Middle East and Africa, the most politically and economically volatile region in the world, had the largest number of countries with inflation greater than 10%. Iran, Sudan, Tanzania, and Ethiopia had the highest inflation in the region.
The region had an average inflation of 9%.
Latin America's inflation rates were led by Argentina and Venezuela. Both have currencies that are fixed to the US dollar, but they also have black market rates that have been increasing.
AIRINC measured high inflation, especially for food costs, in both countries. They found an average regional inflation of 5.1%.
Meanwhile, the Indian subcontinent (India, Pakistan, Sri Lanka, Bangladesh, Nepal, and the Maldives) had high inflation, averaging 8.2% for 2012, while New Zealand and Australia had an average inflation of only 1.3%.
The developed economies of the United States and Canada remained stable for 2012. There was an average regional inflation of 2.1%.