Venezuela beats all other countries worldwide when it comes to inflation.
BY CHRONICLE STAFF
Venezuela will have the world’s highest inflation this year and the following five years, according to a Latin Business Chronicle analysis of new data from the International Monetary Fund.
The data is based on estimates for 2010 and forecasted inflation in the 2011-15 period for 183 nations worldwide.
Venezuela is expected to see an inflation rate of 29.2 percent this year, the IMF estimates. That compares with 26.2 percent in the Democratic Republic of Congo, which has the second-highest inflation, according to the IMF database.
During the next five years, Venezuela will again lead the way, with a rate of 27.6 percent, according to Latin Business Chronicle calculations. That compares with 14.4 percent in Eritrea, which will have the second-highest rate.
Meanwhile, Argentina will have the world’s third-highest inflation during the 2011-15 period. The South American country will likely see an average of 10.9 percent inflation, according to the Latin Business Chronicle analysis.
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World’s Highest Inflation 2010
Estimated average consumer prices
D. Rep. Congo
World’s Highest Inflation 2011-15
Average based on forecasted consumer prices
Sources: International Monetary Fund
(World Economic Outlook, October 2010),
Latin Business Chronicle (ranking and