With passing days the socio-economic condition of countries all across the globe is changing which is affected by multiple reasons. One of the parameters that directly affect the living conditions of a citizen in a country is the inflation rate.
Data posted by the World of Statistics Twitter account shows the inflation rate of some of the countries. If we talk about the country which is on the top with the highest inflation rate in Argentina 98.8 % inflation rate. According to Reuters, Argentina witnessed a 6% increase in the inflation rate in January and the annual figure hit 98.8 % which is the highest since the 1990s hyperinflation.
Turkey is in second place with a 57.68% inflation rate. Though Turkey saw an all-time high inflation rate in 2021 it was working on reducing the rate with the passing days but a major earthquake hit Turkey recently. It’s likely to see higher inflation than in 2021 which was itself higher than ever before.
If we talk about India it is 6.52%. The government is working to reduce the cash flow in the market by increasing the repo rate which will eventually decrease the inflation rate. China has shown the lowest inflation rate, which is a shocking thing because it has been suffering from Corona breakdown and the government’s harsh zero COVID policy. Inflation is likely to go higher because experts have suggested that a global recession in 2023 will affect the growth of countries all across the world.
