Inflation: on a map the countries with the highest price growth rates in the world
Geopolitical tensions are triggering high energy costs, while supply disruptions are distorting consumer prices. The bottom line is that nearly half of the world's countries have inflation rates in the double-digit or higher range.
With new macroeconomic forces shaping the global economy, Visual Capitalist's Dorothy Nuefeld shows the countries with the highest inflation rates in the infographic below, using data from Trading Economics.
As the table below shows, countless countries are facing record levels of inflation. Some are even facing triple-digit inflation rates. Globally, Zimbabwe, Lebanon and Venezuela have the highest rates in the world. Here is the exact table
As price pressures mounted, 33 central banks monitored by the Bank for International Settlements (out of a total of 38) raised interest rates this year. These coordinated rate hikes are the largest in two decades and mark the end of an era of rock-bottom interest rates.
In 2023, central banks may continue to adopt monetary policy stances, as inflation remains aggressively high.
Obviously it is above all an energy problem, as we can see from the following graph with the global energy price index:
Since October 2020, a global energy price index, composed of crude oil, natural gas, coal and propane, has risen sharply. Now the drop in demand and the increase in supply seem to direct inflation downwards, but there can always be backlashes linked to international events.
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The article Inflation: a map of the countries with the highest price growth rates in the world comes from Scenari Economics .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/inflazione-in-una-mappa-i-paesi-con-i-tassi-di-crescita-dei-prezzi-piu-alti-al-mondo/ on Mon, 12 Dec 2022 08:00:09 +0000.