Zimbabwe no longer has the highest inflation in the world. Which country has?


Zimbabwe no longer has the highest inflation in the world but now stands at number 5. United States economist Steve Hanke, however, says as of 23 February, it still had the highest.

United States publication, Insider Monkey put Zimbabwe’s inflation at 92.3%, the official rate following Zimbabwe’s decision to use a weighted rate beginning February, but Streve Hanke said Zimbabwe’s inflation was 480% as of 23 February, the highest in the world followed by Venezuela with 463%.

Insider Monkey says Venezuela now has the highest inflation at 440%.

While Insider Monkey places Syria at number 2 with 139%, Hanke puts it at number 4 with 117%. 

Insider Monkey has Lebanon at number 3 with 124% but Hanke puts Lebanon’s inflation at 331%.

Argentine is number 4 on the Insider Monkey list with 98.8% but it is number 9 on Hanke’s list with 93%.

Below are Insider Monkey’s 5 countries with the highest inflation in the world.

  1. Republic of Zimbabwe

Latest Annualized Inflation Reading: 92.3%

The Republic of Zimbabwe is a South African landlocked country that has been beset by economic and political crises for most part of the last couple of decades. Inflation in Zimbabwe currently sits at 92.3%, and according to the IMF, the country will lead the world in inflation in 2023 which is projected to sit at a whopping 204.6% this year. The February reading of 92.3% marked a decrease from January’s 101.5%, and Zimbabwe has changed its inflation measuring method by now adopting a mix of prices in both the U.S. dollar and the Zimbabwean dollar.

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.


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