11 Countries With The Highest Inflation Of 2022

Illustration of inflation (Mike Cho on Unsplash)

YOGYAKARTA – The condition of the world economy is getting worse due to recent events. This has an impact on a number of countries experiencing inflation. There are even some countries with the highest inflation in the world that are continuously trying to improve their economy.

List of Countries with Highest Inflation

The percentage of inflation also varies, some even experience inflation of up to 80 percent. Here, VOI has summarized for you the most recent list of countries experiencing the highest global inflation, quoted from Trading Economics.

Zimbabwe

Zimbabwe is currently the country with the highest inflation in the world. Based on data from Trading Economics, as of August 2022, inflation in the country reached 285 percent on an annual basis from 256.9 percent in the previous month. This figure is the highest since February 2021.

The country of Zimbabwe experienced an increase in prices for both goods and services, especially food because these conditions were exacerbated by a drought that made crops fail. The country's currency also continued to fall.

Lebanon

Lebanon was once the country with the highest inflation in the world. However, the country's inflation rate fell to 168.45 percent as of July 2022 from 210.08 percent in the previous month. Lebanon's inflation fell to its lowest since September last year.

Syria

Citing Trading Economics, the Central Bureau of Statistics, the Syrian Arab Republic noted that the country's inflation rate rose to 139.46 percent in August. This figure has increased to 133.67 percent in July 2021. Syria is the third country with the highest inflation in the world.

Sudan

Sudan's inflation rate is also reported to have fallen. In June 2022 recorded inflation reached 148.90 percent. However, in July 2022 inflation fell to 125.40 percent. Despite continuing to fall, inflation in Sudan was very high in July 2021, reaching 422.78% due to the economic crisis and political turmoil.

Venezuela

Once declared a failed state, Venezuela recorded an inflation rate in August 2022 of 114.10 percent. Whereas in July 2022 inflation reached 137 percent in July 2022. Venezuela cannot avoid high inflation even though the country is one of the big oil producers.

Turkey

Annual inflation in Turkey rose for even the 15th straight month. In August 2022 inflation will be 80.2 percent. Tuki also experienced price increases in both the property and transportation sectors.

Argentina

Argentina's inflation rate as of July 2022 reached 71 percent. In fact, the inflation was the highest since 1992. Meanwhile, in June it reached 64 percent.

Sri Lanka

Sri Lanka continued to record inflation rates for 11 months in a row, reaching 64.3 percent in August 2022. The country is also experiencing an economic crisis, shortages of basic commodities, and the collapse of their currency.

Iran

Iran's annual inflation declined from 54.0 percent in the previous month to 52.2 percent in August 2022, the lowest figure since May.

Suriname

Suriname is the country with the 10th highest inflation rate in the world. In July 2022 the country's inflation rate fell to 49.20 percent, while in June 2022 inflation was even higher at 55.10 percent.

Moldova

The country of Moldova recorded inflation of 34.3 percent in August 2022 from 33.6 percent in the previous month. This figure is the highest since records began in 2007.

That's information related to the country with the highest inflation. For more interesting information, visit VOI.ID.