Topic updates
Countries with the highest inflation
1st August 2022
Which countries in the world have the highest rates of inflation?
In this YouTube short, we look at data on inflation rates for 2021 drawing on information provided by the international monetary fund.
Hyperinflation is usually defined as when retail prices are rising faster than 50% per month. Venezuela has far and away the highest rate of inflation in the world economy. The Venezuelan economy has collapsed since President Maduro came to power in 2013 and the country is now experiencing the 2nd longest bout of hyperinflation beaten only by Nicaragua (late 1980s.)
🇻🇪 Venezuela finally escaped years of hyperinflation at the start of 2022.
— Thomson Reuters Foundation News (@TRF_Stories) August 1, 2022
⭕️ In 2018, inflation reached 65,000%
📈 But while it cooled to its lowest level in a decade, consumer prices still rose more than 170% in the 12 months to June.https://t.co/eop1otosdF pic.twitter.com/IxdHZWeJKb
Venezuela's slowing inflation is surprising in more ways than one https://t.co/6l9T2XwzhA
— Reuters Venezuela (@ReutersVzla) August 1, 2022
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.
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