Inflation Slowdown Regions and Key Examples Across 30 Countries
By the end of the previous year, inflation slowed most dramatically in Venezuela, with consumer price growth dropping from 686% to 234% within twelve months. This development, reported by RIA Novosti, reflects a broader trend observed in 30 countries where the rate of price growth decelerated overall in the year. The global picture shows pockets of sharp relief alongside more modest declines.
Notably, several African nations and Venezuela posted the largest improvements in inflation control. In Sudan, the inflation rate fell by more than 230 percentage points, while in Lebanon the decline reached 102 percentage points. These shifts illustrate how volatile local factors can dramatically influence consumer prices, even amid global pressures. Elsewhere, the pace of price decreases was more modest, indicating that many economies did not experience equally dramatic relief in the same period.
According to year-end results, inflation slowed in only 30 countries worldwide, and Venezuela stood out as the strongest example, with the annual rate slumping from 686% to 234%. The declines in Sudan and Lebanon were substantial, falling by 230 and 102 percentage points respectively. Other notable movers in the ranking of price-growth declines included Cuba with a notable point drop and Angola with a similar decrease, highlighting the diverse trajectories across regions.
In related analyses, Dmitry Alexandrov of Ivolga Capital commented that rising inflation remains a central risk for the Russian economy in 2023. He noted that higher government spending, coupled with international sanctions, could contribute to further price increases if not managed carefully. This assessment underscores how external shocks and fiscal policy interact to shape inflation paths in large economies.