These are the countries with the highest inflation
The rate of inflation has a big impact on your financial situation, affecting mortgage payments, savings and the cost of your weekly shopping.
How the price of goods and services we regularly spend money on changes over time is used by governments and businesses to take the temperature of a nation’s economy. It’s generally accepted that low, predictable growth is best for everyone. The global inflation rate is currently around 3.6%, according to the International Monetary Fund.
But if inflation is too high or if it moves around a lot, it’s difficult for businesses to set the right prices and for consumers to plan their spending, says the Bank of England. If prices go up drastically in a short time you can’t buy as much with the same amount and it can be hard to work out how much your money is worth.
And some countries that are hobbled by political and economic instability – Venezuela, Zimbabwe and South Sudan chief among them – are facing cripplingly high inflation rates, according to data compiled from Trading Economic.