(CNN Spanish) — Inflation continues to give what to talk about in various countries of the world. Just a couple of weeks ago, the US Consumer Price Index rose 8.5% for the year to March, hitting a new 40-year high.
It should be remembered that inflation is the measure that shows the increase in prices over time. In other words, inflation indicates how much the prices of goods and services have risen in a given time; when prices rise over time, your money decreases in value (known as reduced purchasing power).
In this context, prices have not only risen in the US, but inflation is rising globally due, among other reasons, to the war in Ukraine. The most affected by this situation are the developing countries.
“The war in Ukraine triggered a costly humanitarian crisis that requires a peaceful solution. At the same time, the economic damage caused by the conflict will contribute to a significant slowdown in global growth in 2022 and will increase inflation. Fuel and food prices have increased rapidly, affecting vulnerable populations in low-income countries the most,” says the International Monetary Fund (IMF) in the “World Economic Outlook” of April 2022.
Against this background, the IMF estimates that average inflation in 2022 for developed economies will be 5.7%, and 8.7% for emerging markets and developing countries.
What are the countries with the highest inflation today?
Below, we present the 20 countries with the highest inflation in 2021 and what their projections are for the current year.