Inflation for January was 6%, as forecast by most private consultancies.
According to INDEC, the interannual index accumulates 98.8%,
which positions Argentina as one of the countries with the highest inflation in the world
.
Only 4 manage to overcome the three-digit barrier: Venezuela (305.7%), Zimbabwe (244%), Lebanon (142%) and Sudan (102%).
As a consequence of the Covid 19 pandemic and the Russian invasion of Ukraine (which made the price of energy and food more expensive),
there were inflationary outbreaks in the United States, on the European continent and also in the region
.
In many of them, they took forceful actions to cool prices, such as raising rates and adjusting spending.
As a counterpart, Argentina is part of the group of countries with runaway prices.
It is convenient to review the numbers and the circumstances that each one of them goes through.
The Venezuela of Nicolás Maduro continues to lead the world ranking.
After three years of hyperinflation, prices in the Caribbean country were falling after the decision to shelve the bolivar, the local currency, to allow the use of hard currencies
, especially the dollar,
for regular purchases and expenses .
This is favored by the sending of remittances from people who emigrated in search of a better destination.
Venezuelan inflation, however, slowed down significantly:
in 2021 it had reached a peak of 660%
, by far the highest in the region and in the world.
Behind Venezuela is Zimbabwe, a country that has been going through a deep crisis for decades and
closed 2022 with 285%.
The African nation is also famous for having one of the most devalued currencies in many years,
including the $10 trillion Zimbabwean note
.
In third place in this particular ranking is Lebanon
, which was already facing a serious economic crisis before the Covid 19 pandemic and also a political one.
In 2022 it registered an inflation of 189.4%.
This Middle Eastern country has also been experiencing a shortage of food and key services, such as electricity, for 4 years.
Political fights prevent him from implementing the structural reforms that the International Monetary Fund is demanding in order to disburse a rescue package.
Sudan is the 4th most inflationary country in the world.
He joined the club a year after suffering a military coup, which caused the collapse of its economy.
Until October of last year, Sudan accumulated an annualized inflation of 102%
(barely above Argentina's record).
And, in addition, it faces a general shortage of products, in the midst of tax increases and economic adjustments.
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