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What place does Argentina occupy in the world ranking?


This figure represents the highest indicator in three decadessince the period of hyperinflation of the late eighties and early nineties, between the governments of Raúl Alfonsín and Carlos Menem.

With this result, Argentina is now the second country with the highest inflation in the world, surpassing Venezuela and half a percentage point of Lebanonwhich currently leads the ranking.

Inflation in the region

Inflation in Venezuela in December was 3.9%, up from 1.9% in November. Likewise, in annual terms it was lower, as it was reduced to 193% from 305% in 2022. Thus, the oil nation thus became the second highest inflation in the region.

Behind Venezuela, there is Colombia, which registered an increase of 9.28% in 2023 and 0.45% monthly. In the case of Uruguayand, a neighboring country, had a deflation in the month of December of 0.11% and a cumulative deflation of 5.11%. Whoever follows behind him is Chili, where December prices registered a negative variation of 0.5% and during last year it accumulated 3.9%.

Meanwhile, the largest economy in the region, Brazil, had inflation of just 0.56% in December and a year-on-year increase of 4.62%. Furthermore, Lula has been reaping successes in economic numbers, His last was the increase in the minimum wage above the price dynamics.

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Argentina is now the second country with the highest inflation in the world, surpassing Venezuela and half a percentage point of Lebanonwhich currently leads the ranking.

Paraguay It closed 2023 with 0.3% in December and 3.7% accumulated. This data is positive for Asunción because during 2022 they obtained 8.1% annually. In Peru, The National Institute of Statistics and Informatics (INEI) showed inflation of 0.3% in December and accumulated 3.24% during the 12 months of the previous year.

On the side of Bolivia, in the last month of the year it obtained an inflation of 0.63% and 2.12% in the year. This country used to be one of the countries with the lowest cost of living for some months in 2022, and now it is no longer so.

Finally, Ecuador, the dollarized country that is experiencing a wave of violence between groups linked to drug trafficking and the government, had deflation of 0.02% and a year-on-year increase of 1.35%. As a result, it becomes the country with the lowest inflation in the region.

Countries with the highest inflation in the world

  • Lebanon: 211.9%
  • Argentina: 211.4%
  • Türkiye: 64.8%
  • Zimbabwe: 26.5%
  • Iran: 43.8%
  • Syria: 37.8%
  • Sudan: 37.3%
  • Yemen: 36.8%

Impact of inflation in Argentina

High inflation has a negative impact on the country’s economy, since it reduces the purchasing power of salaries and pensions, makes products and services more expensive, and generates uncertainty in the markets.

According to a report from the Argentine Institute of Fiscal Analysis (IARAF), accumulated inflation in 2023 reduced the purchasing power of salaries by 10.3%. This means that workers need to earn 10.3% more to buy the same amount of goods and services as a year before.





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