The aim of this study is to analyze the relationship between economic growth and inflation in Sweden, Finland and the USA from 1995 to 2022 to determine if any significant relationship exists, and if so, whether it is negative or positive. The method used is a multi-variable time series regression using the Quantity theory of money as the base with GDP growth as the dependent variable and money supply growth, inflation and interest rate growth as the independent variables. Three different models of regression were used to best compare the results and how significant they were, which resulted in current inflation not having a significant influence in economic growth for none of the countries in all three countries. However, lagged inflation showed a significant effect on all three countries.