This is a list of countries sorted by the inflation rate. Inflation is a sustained increase in the general price level of goods and services in an economy over a period of time. Most economists favor a low and steady rate of inflation. In western countries, inflation is usually relatively low. But this is not the case for countries in South America or Africa.
Every year, the World Economic Forum releases its Global Competitiveness Report on the state of the world’s economies. One of those measures is inflation. Venezuela’s inflation rate is in excess of 250%, more than 10 times that of any other country.
Inflation Rate in Time
The video shows how the inflation rate goes over time. Since 2017 the inflation rate in Venezuela went under control and put the country into big troubles. No doubt that people are looking for alternative financial instruments and prefer bitcoin. Cryptocurrencies are volatile, but the local currency Venezuela peso is not only volatile but also losing its value.