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Top 10 countries with the worst inflation rates

According to the International Monetary Fund (IMF), inflation measures the increase in price for a set of goods and services over a certain period, usually a year.

Top countries with the worst inflation rates [BI]

Over time, most countries across the world have witnessed slow inflation rates while some countries are yet to exit the effects of the COVID era, the Russia-Ukraine war and this has raised the inflation rates in these countries.

The article highlights the top 10 countries with the highest inflation rates. Only four African countries made the list with Nigeria escaping with a 31.7% inflation rate as of February 2024.

Here are the top 10 countries with the highest inflation rates;

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As of February 2024, Argentina’s inflation rate rose to 276.2% just within a month. It was recorded as 254.2% in January of the same year.

According to Statista, Argentina has been predicted to have the highest inflation rate in 2023, 2024, and 2025

Trading Economics records Syria’s Inflation rate as 140% as of February 2024.

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As at December 2023, Syria’s inflation rate dropped to 139.6% from 144.6% recorded in November of the same year.

Trading Economics records Inflation rate in Lebanon as 123.21% as of February 2024. The Inflation Rate forecast for 2024/2025 has also been fixed at 180% for Q1, 2024. 160% for Q2, 2024, 140% for Q3 2024 and 150% for Q4 2024.

The Inflation rate in Venezuela has been recorded as 75.9% as of February 2024.

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The rate in February showed a decline from 107.4% recorded in January of the same year and has been predicted to decline to 45% by Q4 2024.

The Inflation rate in Turkey has been recorded as 67.07% as of February 2024, indicating an increase from 64.86% recorded in January 2024.

The inflation in Turkey has been predicted to reduce further to 36% by Q4 2024.

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The Inflation rate in Sudan has been recorded as 63.3% as of February 2023 and according to Statista, the average inflation rate was predicted to continuously decline between 2023 and 2028 by 217.2 percentage points.

Zimbabwe's Inflation rate recorded an all-time high of 55.3% as of March 2024 up from 47.6% recorded in February 2024 amid the sharp depreciation of the Zimbabwean dollar against the US dollar.

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The Inflation rate in Sierra Leone as of January 2024 was recorded as 47.42%, a decline from 52.16% recorded in December of 2023.

According to Trading Economics global macro models and analysts' expectations, Sierra Leone’s Inflation rate is expected to be 44.0% by Q4 2024

Congo's inflation as at December 2023 was 46.80%, an increase from 45.80% in November of 2023.

The country's inflation rate has been projected to rise to 54.0% by Q4, 2024

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The inflation rate in Iran slowed to 35.8 % in February 2024, a minor decline from 38.5% recorded in January 2024

The inflation is expected to experience a minor spike to 38.0% by Q4 2024.

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