These 5 Countries Have the Highest Inflation Rates in 2020

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Inflation is a very real problem in the financial world. Oftentimes, some countries are hit harder than others. The following countries suffer from the highest inflation rates today, and things may not improve anytime soon either. 

Venezuela Remains Inflation King

It won’t come as too big of a surprise to people that Venezuela remains in rough financial shape. In fact, it has been in this position for a while now, albeit things may begin to improve. Its inflation rate has dropped from 2,177% to 1,813% in recent months. An improvement, clearly, but far from what the country needs to get out of this mess. 

Zimbabwe

Everyone has seen the Zimbabwean dollar notes with more zeros on it than a calculator can display. All of this is due to Zimbabwe suffering from massive inflation. Although its rate is coming down in a manner similar to Venezuela, there is still a lot of work to be done. Going from 761% to 659% is a step forward, but not one that will make life easier.

Sudan is Still Plagued by Inflation

Although not much is known about Sudan in terms of finances these days, inflation-based growth is still a very real problem in the country. With a current inflation rate of 167%, it certainly fares a lot better than the two countries above. However, its inflation rate is rising, as the previously recorded percentage was 144%. Something appears to be brewing behind the scenes, and it does not look too great.

Lebanon Notes a Rise

Similar to Sudan, Lebanon is home to an increasing rate of inflation. Whether this has anything to do with the incident in Beirut earlier in the year, is difficult to determine. Even so, its current inflation rate of 120% – compared to 112% prior – shows that there is a long and tough road ahead. 

Suriname

Even though most people couldn’t even find Suriname on a world map, it is a region with inflationary concerns. More specifically, its current rate of 40% – up from 38.2% – is not astronomical, but not great either. It puts the country well ahead of most African regions, as well as regions in South America. Not the best situation to be in by any means. 

Statistics for this article are taken from Trading Economics

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