Inflation has been a conjunctural issue in several countries of the world. A few weeks ago the US Consumer Price Index rose 8.5% for the year ending in March, hitting a new 40-year high.
It is important to point out that inflation is “excessive abundance and raising the general level of prices”, as indicated by the Royal Spanish Academy (RAE). In other words, it is an indicator that shows how much the prices of products and services have risen in a given time.
Product prices are increasing in several countries. In colombia, the Dane revealed that for March 2022 the CPIConsumer’s price index was 1.0%, and the annual variation was 8.53%that is, 7.02 percentage points higher than that reported in the same period of the previous year, when it was 1.51%.
In March 2022, the largest price increases were registered in the cassava subclasses for home consumption (10.92%), onion (10.65%) and blackberries (9.60%). The greatest price decreases were reported in the subclasses pork and derivatives (-2.34%), carrot (-1.70%) and bananas (-0.32%).
On the other hand, this inflation in various parts of the world is due, for other reasons, to the war that Ukraine is currently experiencing after the Russian invasion.
“The war in Ukraine triggered a costly humanitarian crisis that requires a peaceful solution. At the same time, the economic damage caused by the conflict will contribute to a significant slowdown in global growth in 2022 and will increase inflation. Fuel and food prices have risen rapidly, hitting vulnerable populations in low-income countries the hardest,” the International Monetary Fund (IMF) said in the April 2022 “World Economic Outlook.”
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What are the countries with the highest inflation?
we show them the 10 countries with the highest inflation rate in 2021 and what are the projections for 2022.
1. Venezuela: inflation in 2021 was 1,588.5% and the projection for 2022 is 500%
2. Sudan: inflation in 2021 was 359.1% and the projection for 2022 is 245.1%
3.Zimbabwe: inflation in 2021 was 98.5% and the projection for 2022 is 86.7%
4. Yemen: inflation in 2021 was 63.8% and the projection for 2022 is 59.7%
5. Suriname: inflation in 2021 was 59.1% and the projection for 2022 is 38.9%
6. Argentina: inflation in 2021 was 48.4% and the projection for 2022 is 51.7%
7. Iran: inflation in 2021 was 40.1% and the projection for 2022 is 32.3%
8. Ethiopia: inflation in 2021 was 26.8% and the projection for 2022 is 34.5%
9. Angola: inflation in 2021 was 25.8% and the projection for 2022 is 23.9%
10.Zambia: inflation in 2021 was 20.5% and the projection for 2022 is 15.7%