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Inflation: Venezuela World’s Worst

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Venezuela and Argentina have the world’s highest inflation rates. In Latin America, Peru and El Salvador boast the lowest rates.

BY LBC STAFF

 

Venezuela posted the world’s highest inflation last year, followed by Argentina, according to a Latin Business Chronicle analysis of data  from the International Monetary Fund (IMF) for 186 countries worldwide.

 

Venezuela’s rate of 28.2 percent was higher than African countries like the Democratic Republic of Congo, Sierra Leone, Guinea and Angola.

 

Meanwhile, Argentina posted an inflation of 26.6 percent last year, according to Rodrigo Alvarez, chief economist at Ecolatina, a private consultancy in Buenos Aires co-founded by former economy minister Roberto Lavagna.


Argentina’s government reported an inflation rate of 10.9 percent last year, but private-sector economists doubt official figures after years of manipulation of the state statistics agency INDEC.

 

SINGLE DIGITS

 

Except for Venezuela and Argentina, all countries in Latin America last year posted single-digit inflation. Uruguay, the ...

 

 

TABLES

Worlds Ten Worst

Latin America Inflation 2010 for 18 countries ranked by best/worst

Latin America Inflation 2011 for 18 countries ranked by best/worst

 

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