Hi,
In this video we have covered the list of top 20 countries with highest inflation from 1980 – 2023 yearly, We have included the inflation rate overtime.
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What is Inflation?
In simple words Inflation is defined as the rate of increase in price of goods & services over a given time period, it decreases the purchasing power of the currency that means more money is requires for purchasing a same amount of goods and services.
We can say inflation is one of the major factor which decreases the value of money overtime.
Inflation may also lead to the situation of Hyperinflation, where prices of goods and services are increased rapidly or uncontrollable over a period of time Venezuela is one of the example of Hyperinflation Country in 2018-19.
Inflation can be caused by various factors, like an increase in demand of goods and services, or decreased in the supply of goods, or inflation may also be caused when there is increase in the production cost of the product.
Inflation can be have positive as well as negative effects on the country economy.
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Here is a brief of countries with highest inflation highest inflation country 1980 – 2023
In 1980, Israel has the highest inflation rate followed by Iceland which has inflation of nearly 55.6%.
In 1981, again Israel has the largest inflation followed by Ghana which has the inflation rate around 96.5%
In 1982, Bolivia has the highest inflation of more than 297.84% followed by Israel.
In 1983, Again Bolivia has the highest inflation rate followed by Israel Bolivia has the inflation rate of more than 2000%.
In 1984, Again Bolivia has the highest inflation rate followed by Israel which made Bolivia the country with the Hyperinflation in 1984, it crossed almost 7800% of the inflation rate which was insane at that time.
By 1985, Bolivia inflation rate almost touched 8000% and after that the inflation overtime decreases.
By 1986, Lebanon reached the list of Hyperinflation countries followed by Uganda, Lebanon been in the first place in the list of highest inflation countries till 1987.
In 1988 Peru has taken the first place in the list and has the first place till 1990.
In 1991, Congo, Dem. Rep. gains the first place in the list of most hyperinflation countries and remained at the first place till starting of 1992.
In 1993, Armenia gained the first place followed by Ukraine, and in mid 1993 Congo, Dem. Rep. again gained the first positioned in the list and crossed more than 9000% inflation rate by 1994.
In 1994, Angola took the first place in the list followed by, Congo, Dem. Rep. and remained at the first position till 1995 after that, Congo, Dem. Rep. again gained the first positioned in the list of countries with highest inflation rate which makes Democratic Republic of the Congo the country with the highest Hyperinflation in 1996.
By the mid of 1996 Angola again gained the first positioned
In 1997 Bulgaria becomes the country with the highest inflation rates more than 539.58%.
Till mid 2001, Democratic Republic of the Congo (Congo, Dem. Rep.) has become the country with the highest inflation in the decade, after that Angola has again crossed Congo, Dem. Rep. and remained in the first position till 2003, In 2004 Iraq becomes the country with the highest inflation of the year, and remained at that positioned till mid of 2006.
Between mid 2006 to mid 2007 Myanmar has the highest inflation rate.
After that Seychelles gained the first place till mid of 2008, In 2008 mid Congo, Dem. Rep. again featured in the countries with the highest inflation rate followed by Venezuela.
In mid 2009 Venezuela gained the first place in the list of countries with highest inflation and remained in the list of top countries till mid 2021, and by the 2019 Venezuela Crossed almost 129,989.89% which is insane number and made Venezuela the country with the highest inflation in the world till now causing hyperinflation, Venezuela is the country with the highest Hyperinflation till now.
At the ending of 2021 Zimbabwe gained the first positioned in the list followed by Venezuela and remained in that position till starting of 2023.
In 2023 Venezuela again gained the first positioned in the list of highest inflation country 1980 -2023.
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