Inflation by Country
“Inflation rate” is an economic term that refers to changes in a price index. The inflation of a country is the rate of price increase over a set period of time. Most inflation figures are given for the yearly increase in the price index. Inflation affects the purchasing power of the population and affects the economy of a country in countless ways. With a rising inflation rate, a currency unit will purchase fewer goods, necessitating a rise in salaries and other economic changes.
Inflation may seem like a constant issue, but different parts of the world have very different inflation rates. Some countries have double-digit rates of inflation, or even higher rates. Other countries have little to no inflation. Still others have negative inflation rates, with prices getting lower instead of higher. Countries with the highest and lowest inflation rates as well as a sampling of those in between are as follows:
The inflation rate of Canada is 2.1 percent. The Unites States has an inflation rate of 2.9 percent. Mexico has an inflation rate of 4 percent. Venezuela has the highest inflation rate in the Americas with 18.7 percent.
The inflation rate of Norway is 0.8 percent. The rate of inflation for the U.K. is 2.3 percent. Australia has an inflation rate of 2.3 percent. Iran has a 17 percent rate of inflation. Afghanistan has a 13 percent rate of inflation. The inflation rate of Burma is 35 percent. The rate of inflation in Japan is 0.1 percent.
Zimbabwe has a 12,563 percent rate of inflation. Guinea has an inflation rate of 23.4 percent. Burkina Faso has an inflation rate of -0.2 percent. Niger has a 0.1 percent rate of inflation.
The Countries With the Highest Inflation Rates
Political or cultural upheaval can greatly affect the inflation rate of a country. Zimbabwe has an inflation rate that is a whopping 12,563 percent. Burma has an inflation rate of 35 percent. Guinea has an inflation rate of 23.4 percent. Venezuela has an inflation rate of 18.7 percent. Sao Tome and Principe has an inflation rate of 18 percent.
Countries With the Lowest Inflation Rates
San Marino has a negative inflation rate, with -1.5 percent. The Northern Mariana Islands has an inflation rate of -0.8 percent. Burkina Faso has an inflation rate of -0.2 percent. The inflation rate of Japan is 0.1 percent. Niger has an inflation rate of 0.1 percent. Niger has an inflation rate of 0.1 percent.
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