Thursday, June 1, 2023

According to Trading Economics, Venezuela is the country with the most inflation in the world

According to Trading Economics, a program for the analysis and interpretation of economic indicators around the world, Venezuela is the country with the highest inflation rate in the world.

In its most recent ranking, Trading Economics evaluated the inflation rates of all countries in the world, with Venezuela scoring the highest percentage in April 2023 at 436%.

This rate is well above countries like Lebanon, Syria, Argentina and Zimbabwe, which lead the list with the highest inflation rates in the world with 264, 139, 108 and 75.2 respectively.

However, in April this year, the inflation index in Venezuela fell to 436.30%, compared to 439.60% a month earlier.

On their part, the countries with the lowest inflation rate in the ranking are South Sudan with -6.2%, Bahrain with -0.1%, China with 0.1%, Brunei with 0.4%, Seychelles with 0.4% and Cambodia with 0.7%. Were.

Factors Affecting Inflation in Venezuela

Furthermore, Trending Economics indicates that the main factors affecting the inflation rate in Venezuela are food, transportation, housing rent, among others.

«In Venezuela, the main components of the consumer price index are: food and lunch-alcoholic beverages (32.2% of the total weight); transport (10.8%) and house rent (9.8%). restaurants and hotels represent 8.8%; clothing and footwear 7.2%; Miscellaneous goods and services 5.8% and household appliances 5.6%. Others include: health (4.3%); communication (3.8%); leisure and culture (3.6%); alcoholic beverages and tobacco (3%); education (2.7%) and home service (2.3%). As of December 2007, the base of the national index was 100. The CPI includes 10 metropolitan areas, as well as another 74 locations in the rest of the country.

Nation World News Desk
Nation World News Desk
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