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Mapped: Which Countries Have the Highest Inflation?
Mapped: Which Countries Have the Highest Inflation Rate?
Inflation is surging nearly everywhere in 2022.
Geopolitical tensions are triggering high energy costs, while supply-side disruptions are also distorting consumer prices. The end result is that almost half of countries worldwide are seeing double-digit inflation rates or higher.
With new macroeconomic forces shaping the global economy, the above infographic shows countries with the highest inflation rates, using data from Trading Economics.
Double-Digit Inflation in 2022
As the table below shows, countless countries are navigating record-high levels of inflation. Some are even facing triple-digit inflation rates. Globally, Zimbabwe, Lebanon, and Venezuela have the highest rates in the world.
As price pressures mount, 33 central banks tracked by the Bank of International Settlements (out of a total of 38) have raised interest rates this year. These coordinated rate hikes are the largest in two decades, representing an end to an era of rock-bottom interest rates.
Going into 2023, central banks could continue this shift towards hawkish policies as inflation remains aggressively high.
The Role of Energy Prices
Driven by the war in Ukraine, energy inflation is pushing up the cost of living around the world.
Since October 2020, an index of global energy prices—made up of crude oil, natural gas, coal, and propane—has increased drastically.
Read More at https://elements.visualcapitalist.com/mapped-countries-with-highest-inflation-rate/