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Everyone is worried about inflation making their money worth less or even worthless.
Morgan Stanley's The Global Monetary Analyst report is out with data on global inflation rates, and the data is striking.
One third of countries, including India, listed in the report experienced annualized inflation rates above their local central bank targets.
Let us have a look at inflation rates in 20 countries.
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India
Inflation target: 5-6 per cent
Last month's inflation rate: 9.7 per cent
Morgan Stanley's 12-month forecast rate: 8.8 per cent
According to the International Monetary Fund, as of 2011, the Indian economy is worth $1.631 trillion; it is the ninth-largest economy by market exchange rates, and is, at $4.057 trillion, the fourth-largest by purchasing power parity.
With its average annual GDP growth rate of 5.8 per cent over the past two decades, and reaching 10.4 per cent during 2010, India is one of the world's fastest-growing economies.
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Russia
Inflation target: 6-7 per cent
Last month's inflation rate: 7.2 per cent
Morgan Stanley's 12-month forecast rate: 7.6 per cent
Russia has a market economy with enormous natural resources, particularly oil and natural gas.
It has the 10th-largest economy in the world by nominal GDP and the 6th-largest by purchasing power parity.
Since the turn of the 21st century, higher domestic consumption and greater political stability have bolstered economic growth in Russia.
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Brazil
Inflation target: 4.5 per cent
Last month's inflation rate: 7 per cent
Morgan Stanley's 12-month forecast rate: 5.8 per cent
Brazil is the largest national economy in Latin America, the world's seventh-largest economy at market exchange rates and the eighth largest in purchasing power parity, according to the International Monetary Fund and the World Bank.
Brazil has a mixed economy with abundant natural resources. The Brazilian economy has been predicted to become one of the five largest in the world.
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Hong Kong
Inflation target: N/A
Last month's inflation rate: 5.8 per cent
Morgan Stanley's 12-month forecast rate: 5.3 per cent
As one of the world's leading international financial centres, Hong Kong has a major capitalist service economy characterised by low taxation and free trade.
The currency, Hong Kong dollar, is the eighth most traded currency in the world as of 2010.
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China
Inflation target: N/A
Last month's inflation rate: 5.5 per cent
Morgan Stanley's 12-month forecast rate: 5.0 per cent
China now ranks 29th in the Global Competitiveness Index. Forty-six Chinese companies made the list in the 2010 Fortune Global 500 (Beijing alone with 30).
Measured using market capitalization, four of the world's top 10 most valuable companies are Chinese.
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The United Kingdom
Inflation target: 2 per cent
Last month's inflation rate: 5.0 per cent
Morgan Stanley's 12-month forecast rate: 2.4 per cent
Based on market exchange rates, the United Kingdom is today the sixth-largest economy in the world and the third-largest in Europe after Germany and France, having fallen behind France for the first time in over a decade in 2008.
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New Zealand
Inflation target: 1-3 per cent
Last month's inflation rate: 4.6 per cent
Morgan Stanley's 12-month forecast rate: N/A
New Zealand has a modern, prosperous and developed market economy with an estimated gross domestic product at purchasing power parity per capita of roughly $28,250.
New Zealand was ranked the third most developed country in 2010 according to the United Nations Development Programme's Human Development Index and fourth in the 2011 Index of Economic Freedom published by The Heritage Foundation.
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Indonesia
Inflation target: 5 per cent
Last month's inflation rate: 4.4 per cent
Morgan Stanley's 12-month forecast rate: 6.2 per cent
Indonesia has a mixed economy in which both the private sector and government play significant roles.
The country is the largest economy in Southeast Asia and a member of the G-20 major economies.
Indonesia's estimated gross domestic product (nominal), as of 2010 was $706.73 billion with estimated nominal per capita GDP was $3,015.
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Poland
Inflation target: 2.5 per cent
Last month's inflation rate: 4.0 per cent
Morgan Stanley's 12-month forecast rate: 3.2 per cent
Poland's high-income economy is considered to be one of the healthiest of the post-Communist countries and is currently one of the fastest growing within the EU.
Having a strong domestic market, low private debt, flexible currency, and not being dependent on a single export sector, Poland is the only European economy to have avoided the late-2000s recession.
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South Korea
Inflation target: 2-4 per cent
Last month's inflation rate: 3.9 per cent
Morgan Stanley's 12-month forecast rate: 2.7 per cent
South Korea has a market economy which ranks 14th in the world by nominal GDP and 12th by purchasing power parity, identifying it as one of the G-20 major economies.
It is a high-income developed country and is a member of OECD. South Korea is one of the Asian Tigers, and is the only developed country so far to have been included in the group of Next Eleven countries.
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Australia
Inflation target: 2-3 per cent
Last month's inflation rate: 3.5 per cent
Morgan Stanley's 12-month forecast rate: 2.7 per cent
Australia has a market economy with high GDP per capita and low rate of poverty. The Australian dollar is the currency for the nation, including Christmas Island, Cocos (Keeling) Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru, and Tuvalu.
After the 2006 merger of the Australian Stock Exchange and the Sydney Futures Exchange, the Australian Securities Exchange is now the ninth largest in the world.
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Canada
Inflation target: 1-3 per cent
Last month's inflation rate: 3.2 per cent
Morgan Stanley's 12-month forecast rate: 1.7 per cent
Canada is one of the world's wealthiest nations, with a high per-capita income. It is a member of the Organisation for Economic Co-operation and Development and the G8, and is one of the world's top ten trading nations.
Canada is a mixed economy, ranking above the US and most western European nations on the Heritage Foundation's index of economic freedom.
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Mexico
Inflation target: 3 per cent
Last month's inflation rate: 3.2 per cent
Morgan Stanley's 12-month forecast rate: 3.7 per cent
Mexico has the 13th-largest nominal GDP and the 11th-largest by purchasing power parity. GDP annual average growth for the period of 1995-2002 was 5.1 per cent.
Foreign debt decreased to less than 20 per cent of GDP. From 2000 to 2004, the population in poverty has decreased from 24.2 per cent to 17.6 per cent in the general population and from 42 per cent to 27.9 per cent in rural areas.
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Euro zone
Inflation target: 2 per cent
Last month's inflation rate: 3.0 per cent
Morgan Stanley's 12-month forecast rate: 1.7 per cent
The eurozone is an economic and monetary union of 17 European Union member states that have adopted the euro as their common currency and sole legal tender.
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Israel
Inflation target: 1-3 per cent
Last month's inflation rate: 2.8 per cent
Morgan Stanley's 12-month forecast rate: 2.2 per cent
Israel is considered one of the most advanced countries in Southwest Asia in economic and industrial development.
In 2010, it joined the OECD. The country is ranked third in the region on the World Bank's Ease of Doing Business Index as well as in the World Economic Forum's Global Competitiveness Report.
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Sweden
Inflation target: 2.0 per cent
Last month's inflation rate: 2.9 per cent
Morgan Stanley's 12-month forecast rate: 1.9 per cent
Sweden is an export-oriented mixed economy featuring a modern distribution system, excellent internal and external communications, and a skilled labour force.
Timber, hydropower and iron ore constitute the resource base of an economy heavily oriented toward foreign trade.
Sweden's engineering sector accounts for 50 per cent of output and exports.
Telecommunications, the automotive industry and the pharmaceutical industries are also of great importance. Agriculture accounts for two per cent of GDP and employment.
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The United States
Inflation target: 1.7-2.0 per cent
Last month's inflation rate: 1.6 per cent
Morgan Stanley's 12-month forecast rate: 2.1 per cent
The United States has a capitalist mixed economy, which is fuelled by abundant natural resources, a well-developed infrastructure, and high productivity.
According to the International Monetary Fund, the US GDP of $15 trillion constitutes 23 per cent of the gross world product at market exchange rates and over 20 per cent of the gross world product at purchasing power parity.
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Norway
Inflation target: 2.5 per cent
Last month's inflation rate: 1.4 per cent
Morgan Stanley's 12-month forecast rate: N/A
Norwegians enjoy the second-highest GDP per-capita (after Luxembourg) and fourth-highest GDP per-capita in the world.
Today, Norway ranks as the second wealthiest country in the world in monetary value, with the largest capital reserve per capita of any nation.
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Japan
Inflation target: 0-2 per cent
Last month's inflation rate: 0-2 per cent
Morgan Stanley's 12-month forecast rate: -1.0 per cent
As of 2011, Japan is the third-largest national economy in the world, after the United States and China, in terms of nominal GDP, and the fourth-largest national economy in the world, after the United States, China and India in terms of purchasing power parity.
As of January 2011, Japan's public debt was more than 200 per cent of its annual gross domestic product, the largest of any nation in the world.
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Switzerland
Inflation target: 2 per cent
Last month's inflation rate: -0.1 per cent
Morgan Stanley's 12-month forecast rate: N/A
Switzerland has a stable and modern economy. It has the highest European rating in the Index of Economic Freedom 2010, while also providing large coverage through public services.
The nominal per capita GDP is higher than those of the larger Western and Central European economies and Japan (and indeed one of the highest in the world).
The Swiss franc remains one of the world's strongest currencies with the lowest inflation rate.