Inflation rates by country and year

0%4.5%9%13.5%18.1%
0%4.5%9%13.5%18.1%
198110.0%
20032.6%
20253.6%
Source: World Bank

Data: World Bank, annual %. For information only — not financial advice.

Year2025Inflation Rate3.6%

Behind the curve

Turning points in Bhutan

  1. 1998↕ Mixed effects

    The Asian financial crisis — Wikipedia (opens in a new tab)

    Bhutan's ngultrum is pegged to the Indian rupee, so regional and Indian price shocks pass through directly. The late-1990s Asian crisis disrupted trade and prices, leaving inflation mixed.

    Royal Monetary Authority of Bhutan
  2. 2008↑ Upward pressure

    The world food price crisis — Wikipedia (opens in a new tab)

    Bhutan imports most of its food, largely from India, so the 2007–08 global food-price surge fed through to domestic prices.

    Royal Monetary Authority of Bhutan
  3. 2022↑ Upward pressure

    The post-pandemic inflation surge — Wikipedia (opens in a new tab)

    Rising Indian and global food and fuel prices, transmitted through the rupee peg, pushed Bhutanese inflation up through 2022.

    Royal Monetary Authority of Bhutan

These are selected historical influences, not a complete account of inflation. An upward-pressure event can coincide with a peak when its inflationary effect has already occurred or when other forces begin pushing inflation lower. The markers show the years in which events occurred, although their effects may extend into later years.

What is the inflation in Bhutan?

The annual inflation rate in Bhutan was 3.6% in 2025, the most recent year in the World Bank dataset. That means prices rose 3.6% on average compared with the year before. Use the chart above to explore Bhutan's full inflation history from 1981 to 2025, and to compare it with any other country.

How inflation in Bhutan has changed

Inflation in Bhutan peaked at 18.1% in 1983 and reached its lowest point at 1.9% in 1985. Averaged across the 45 years of available data (1981–2025), the rate has been 7.0% per year.

Frequently asked questions about inflation in Bhutan

What is the current inflation rate in Bhutan?

The latest available annual figure is 3.6% in 2025, from the World Bank. Because the figures are reported annually, they may not reflect the most recent monthly reading published by Bhutan's statistical office.

What was the highest inflation rate in Bhutan?

The highest annual inflation rate on record is 18.1%, reached in 1983.

What was the lowest inflation rate in Bhutan?

The lowest annual inflation rate on record is 1.9%, recorded in 1985.

Where does the inflation data for Bhutan come from?

All figures come from the World Bank's World Development Indicators (indicator FP.CPI.TOTL.ZG), which report annual consumer price inflation for more than 200 countries and territories from 1960 onward.