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21 Nov, 2022 05:24

Global inflation leaders revealed

Zimbabwe ranks first in terms of annual consumer price growth, while Russia is 45th
Global inflation leaders revealed

Zimbabwe, Lebanon and Venezuela are the world leaders in annual inflation, according to a study by the news agency RIA Novosti published on Sunday.

The agency made its calculations on the basis of the national inflation statistics of 193 countries across the globe. The final report included data from 155 states that by mid-November had disclosed their inflation data for September.

The highest inflation rate in the world was registered in Zimbabwe at 280.4%. The price growth in the country began to accelerate at the end of last winter and by September had accelerated 4.6-fold, the report stated.

Lebanon had the second worst inflation in the world at 162.47%. Elsewhere in the Middle East region, a high reading was recorded in Turkey (83.5%).

Venezuela, which has been suffering from elevated price growth for years, came in third place globally with inflation of 157.4%.

In Europe, the highest figure in September was registered in Moldova at 34%, followed by Ukraine with 24.6%. Lithuania had the highest reading in the EU at 24.1%.

Russia ranked 45th on the list, with September price growth of 13.7%. Since then, however, inflation in the country has subsided to 12.4%, according to data published by the Ministry of Economic Development last week.

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