Top 10 Countries With Highest Inflation 2022

High energy prices are being driven by geopolitical tensions, while supply-side disruptions are also distorting consumer prices. 

As a result, nearly half of the world's countries are experiencing double-digit inflation or higher.

Some are even experiencing triple-digit inflation. 

Zimbabwe, Lebanon, and Venezuela have the highest rates worldwide.

As long as inflation remains aggressively high, central banks may continue to shift towards hawkish policies in 2023.

So far, 33 of the 38 central banks tracked by the Bank of International Settlements have raised interest rates this year. 

These coordinated rate increases are the largest in two decades, signalling the end of an era of ultra-low interest rates.

Today , we are going to list the top 10 for reference (Country vs inflation %)

1. Zimbabwe - 269.0%
2. Lebanon - 162.0%
3. Venezuela - 156.0%
4. Syria - 139.0%
5. Sudan - 103.0%
6. Argentina - 88.0%
7. Turkey - 85.5%
8. Sri Lanka - 66.0%
9. Iran - 52.2%
10. Suriname - 41.4%

In comparison, Australia experienced 7.3% inflation, with more to come as RBA planning to incerase the rates again nearing Christmas time.

WILL IT LAST?

Based on past experience, it will take at least a few years to bring rising prices under control.

Consider the 1980s' record-breaking inflation.

Italy, which combated inflation faster than most other countries, reduced inflation from 22% in 1980 to 4% in 1986.

If global inflation rates continue to hover around 9.8% in 2022, it will take until at least 2025 until inlfation is back down to 2% level.

P.S.

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