Argentina replaced long-time leader Venezuela in the list of countries with the highest inflation at the end of 2023. This is proven by research data RIA News.
In Argentina, inflation rose from 161% in November to 211% in December due to the devaluation of the national currency. A year ago, this rate was 95 percent.
Lebanon came in second with an inflation rate of 192%, compared to 122% in 2022. Venezuela closed out the top three, where price growth slowed to 190% from 234% a year ago.
Inflation in Turkey reached 65 percent in 2023, and in Russia it reached 7.4 percent after 11.9 percent in 2022. Russia ranked 35th among 151 countries.
According to the research, annual inflation exceeded 4.2 percent in half of the world’s countries. Price growth slowed in 130 countries and accelerated in 20. The highest acceleration in inflation was seen in Argentina.
At the beginning of February, the Organization for Economic Co-operation and Development (OECD) got worse Eurozone economic growth forecast for 2024-2025. GDP is expected to grow by 0.6% in 2024 and inflation may increase in the UK, France and Germany.
Previously West accepted The economic power of BRICS is under threat.