If, like most Americans, you’re frustrated by higher prices for just about everything, at least you don’t reside in one of these countries.
According to figures from the International Monetary Fund (IMF), Venezuela is the country with the highest inflation in the world. Venezuela’s consumer prices had an estimated increase of 360% for 2023.
This marks the tenth year in a row that the inflation rate in Venezuela is one of the highest globally. Three other countries are experiencing especially high inflation this year: Zimbabwe, with a rise in consumer prices estimated at 315%, Sudan with 256%, and Argentina seeing an increase of 122%.
Argentina just held a series of elections and voted for capitalism vs socialism/communism. It will be interesting to see how Javier Milei, Argentina’s new president-elect tries to address the rampant inflation that country has endured for way too long!
Sherman Analytics provided some of this information