Only Zimbabwe has higher inflation than Venezuela. Other inflation losers include Bolivia and Nicaragua.
BY CHRONICLE STAFF
Venezuela will likely end up having the world's second-highest inflation after Zimbabwe, according to a Latin Business Chronicle analysis of new data from the International Monetary Fund (IMF).
Inflation in the South American country is expected to reach 25.7 percent this year and 31.0 percent next year, according to the IMF's World Economic Outlook released last week. That's higher than countries like Myanmar and Eritrea, which previously had more inflation than Venezuela. It's also higher than Azerbaijan, which will post the world's third-highest inflation this and next year.
Meanwhile, the fund does not have forecasts for inflation in Zimbabwe this and next year, but it will likely end up again as the world's worst rate. At the end of last year, it reached a whopping 108,844 percent, according to the IMF.
Keywords: ALBA, Andean Community, Argentina, Bolivia, Brazil, CAFTA, Ecuador, Mercosur, Mexico