Inflation wreaks havoc on countries around the world, with inflation nearing 100 percent in Argentina

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- Food inflation in Zimbabwe exceeds 300 percent

- Turkey faces catastrophic inflation with earthquake, neighboring Sri Lanka faring worse

New Delhi: The effect of Ukraine war is being seen on the economy of many countries of the world. Many countries have fallen into recession. In India too, the retail inflation rate for the month of January reached 6 percent. But, the condition of many other countries of the world has become dire due to inflation. Britain fell into the depths of recession just last year. Whereas, the Federal Reserve of America has announced hikes in interest rates for a long time as part of measures to curb inflation. Having said this, there is also a country in the midst of the world's most viable economy, where the inflation rate has reached 100 percent. There is another country where food inflation has crossed 300 percent.

In Argentina, a country spread over 2,780,400 square kilometers in South America, the inflation rate has reached close to 100 percent. Here, the inflation rate was recently recorded at 98.80 percent. Along with this, according to the current statistics, Argentina has become the country with the highest inflation rate in the world. After Argentina, the second name on the list is Turkey, which has been rocked by a devastating earthquake. The death toll in Turkey due to the earthquake has reached close to 50,000.

Inflation rate of 57.68 along with devastating earthquake is taking its toll on Dazaya. The third name in this list is Russia, where the inflation rate has reached 11.8 percent. Italy has come fourth in this list with an inflation rate of 10.1 percent. Inflation rate in Britain is 10.1 percent. In Zimbabwe, the food inflation rate in 2022 was recorded at 340 percent. Whereas, the rate of food inflation in Lebanon and Venezuela was recorded at 208 and 109 percent.

Along with the earthquake, Turkey's food inflation rate has also been disastrous. According to a report, the food inflation rate in Turkey was 109 percent. In India's neighboring country Sri Lanka, which is emerging from a civil war-like situation, the food inflation rate was 86 percent. According to the estimates of the International Monetary Fund (IMF), the situation of Zimbabwe, Venezuela, Sudan, Argentina and Turkey will become dire in the year 2023. The IMF has forecast inflation in Zimbabwe to exceed 200 percent for the second year in a row.

Inflation rate in the year 2023 as per IMF forecast

order

the country

Inflation rate

( 1)

Zimbabwe

204.6

( 2)

Venezuela

195.0

( 3)

Sudan

76.9

( 4)

Argentina

76.1

( 5)

Turkey

51.2

( 6)

Iran

40.0

( 7)

Sri Lanka

29.5

( 8)

Ethiopia

28.6

( 9)

Suriname

27.2

( 10)

Sierra Leone

26.2

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