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Central banks around the world are lowering borrowing costs as global inflation eases from the multi-decade highs reached in many countries in recent years.

The FT global inflation and interest rates tracker provides a regularly updated visual narrative of consumer price inflation and central bank policy rates around the world.

This page covers the factors affecting policymakers’ decisions on borrowing costs and whether central banks have increased or decreased interest rates.

Higher borrowing costs have helped ease the fast pace of price growth that swept the world during the pandemic.

While inflation in most nations has come down from its peak, many policymakers have warned that the last leg of the journey to central banks’ target — which in most advanced economies is 2 per cent — will be the hardest.

You can use this page to monitor inflation and interest rates in most individual countries.

This page also tracks measures that are closely monitored for signs of how inflation and policy rates might evolve in the months ahead.

The latest figures for the world’s largest economies show that inflation remains elevated in some countries, excluding food and energy, a key measure of underlying price pressures.

Wholesale energy costs provide a timely measure of the price pressures consumers might face in the coming months.

A rise in energy prices was the main driver of inflation in many countries in recent years, but gas and electricity costs have retreated from their peaks during the energy crisis that followed Russia’s full-scale invasion of Ukraine.

This page also tracks the yields on 2-year government bond yields, which are strongly affected by market expectations of interest rates over that time.

The cost of homes soared in many countries during the pandemic, but high mortgage rates have led to a slowdown in house price growth in a number of countries.