10 Countries with the Highest Inflation Rates, Some Exceeding 200%

Economics & Macro

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Viva Budy Kusnandar 09/06/2022 13:40 WIB

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Several countries experienced annual inflation exceeding 100% (year-on-year) in April-May 2022, with some even reaching 200% (year-on-year). This means that prices of goods in those countries increase

Top 10 Countries with the Highest Annual Inflation (April/May 2022)

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10 Countries with the Highest Inflation Rates, Some Exceeding 200%

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Top 10 Countries with the Highest Annual Inflation (April/May 2022)

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Based on Tradingeconomics data, several countries currently experience annual inflation (year on year/yoy) exceeding 200%.

This means that the prices of goods in these countries have increased more than threefold in the last year.

Venezuela is recorded as the country with the world's highest annual inflation rate, reaching 222% (yoy) until April 2022.

Venezuela has experienced a prolonged economic crisis since 2013. This oil-rich nation has faced bankruptcy, partly due to over-reliance on oil export revenue.

The economic crisis in Venezuela was triggered, among other factors, by the plunge in global oil prices from US$100/barrel to only US$40/barrel in 2014. Venezuela's economy was further hit when oil prices fell below US$30 per barrel in 2016.

Next, the country with the highest annual inflation rate is Sudan, at 221% (yoy) in April 2022. This is followed by Lebanon with 206% (yoy) inflation and Syria with 139% (yoy) until August 2021.

Zimbabwe also experienced annual inflation of 132% (yoy) in May 2022, Turkey at 73.5% (yoy), and Suriname at 59.8% (yoy).

Following these are Argentina with 58% (yoy) inflation, Iran at 39.3% (yoy), and Sri Lanka at 39.1% (yoy).

Several of these countries with high inflation have experienced prolonged unrest or warfare, causing consumer prices to spiral out of control.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."