Wednesday, May 31, 2023

Bolivia, among the five countries with the lowest inflation in the world

Between January and April 2023, Bolivia is among the five countries with the lowest inflation in the world (consumer price index (CPI) – the indicator that measures the monthly variation in the prices of a set of goods and services).

According to data compiled by La Razón from statistical institutions and central banks, Germany has the lowest inflation in the world with a rate of -3.3%.

It is followed by Costa Rica with -1.23% inflation index, Belgium with -0.7%. Bolivia with -0.003% and Japan with 0.3% according to the official data of the countries analyzed.

In contrast, Zimbabwe is the country with the highest inflation in the world with a rate of 356.6%. This Southern African country is followed by Venezuela with an index of 86.7%, Lebanon with 81.4%, Argentina with 32% and Turkey with 15.2%.


At the South American level, Bolivia has the lowest inflation in the region. And if all countries in Latin America and the Caribbean are taken into account, apart from the United States and Canada, the country ranks second, behind only Costa Rica.

Bolivia implements a policy of subsidies for fuel, flour and grains such as corn, staple food for poultry, pigs and dairy cattle, in order to keep food prices under control. It has kept the exchange rate fixed since November 2011.

These policies have allowed the Bolivian state to overcome the effects of various crises affecting countries in the region.

President Luis Arce repeatedly said, “Thanks to this sovereign policy, unlike other countries, Bolivia does not have rapid inflation nor do we lack food.”

Report. On 10 May, the National Statistical Institute (IPC) reported that the accumulated CPI till April 2023 recorded a variation of -0.003%. Meanwhile, in the fourth month of this administration, inflation was 0.18% and in 12 months it was positive at 2.70%.

According to the State Office, the CPI data shows general price stability in our country.

The 0.18% increase in CPI registered in April was mainly due to increase in prices in the transport sector; food and non-alcoholic beverages; Communications; Furniture, household goods and services.

as well as food and drink eaten outside the home; clothes and shoes; and housing and basic services.

Bolivia closed last year with the lowest inflation rate in the region at 3.12%.

The pro-fiscal program (PFF) 2023, signed on January 6 between the Ministry of Economy and Public Finance and the BCB, sets a GDP growth of 4.86% for this year. and an end-of-period inflation rate of 3.28%.

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
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