After knowing the data of the inflation reported by the National Institute of Statistics and Censuses (INDEC), which revealed 5.1% in December and an annual total of 94.8%, It was confirmed that the country occupies the fourth place in the world order, of countries with the highest rate of price increases.
The first place on the unfortunate podium is occupied by Venezuela, which added a 305% increase in prices, according to the measurement of the Venezuelan Finance Observatory (OVF)who at the same time warned that if he continued the pace of inflation current situation, that country’s economy could soon slide into hyperinflation.
In the second step is Zimbabwe, which measured a inflation of 244%, which came from 2021 with 98% and 2020 with an incredible 558%. The International Monetary Fund (IMF) projected for 2023, a rise of 203% for the African country.
The World Bank stated for Argentina that both high inflation and price and capital controls constitute a strong obstacle to the country’s economic growth.
In third place is Lebanon, which shows 142% with the accumulated data up to November. The economy of that country collapsed in 2019, when it went into default and from that point until 2021 it suffered a 58% recession. For 2022, the World Bank projected a fall of 5.4%.
In the price increase ranking, Argentina also stands out in Latin America, where Venezuela was first, our country second with 94.8%, and third, although quite far, was Colombia with 13.1%; Chile reached 12.8% and well below the list, Bolivia and Ecuador remained with 3.1 percent in all of 2022.