Where does Turkey rank globally in inflation? Here is the answer...

The Turkish Statistical Institute (TÜİK) announced annual inflation in March at 68.5 percent. According to data from the Trading Economics website covering March 2024 or the closest available dates, this rate is higher than the inflation rates in all African countries.

THE COUNTRY WITH THE HIGHEST INFLATION...

The Trading Economics website covers the latest inflation data released by countries. Most of the data consists of March 2024 and February 2024 figures. According to the data on Trading Economics, the country with the highest annual inflation in the world by a wide margin is Argentina. In that country, annual inflation in March 2024 was 288 percent. It is followed by Syria with 140 percent and Lebanon with 123 percent. Turkey, in fourth place, had an annual inflation rate of 68.5 percent as of March 2024. Venezuela follows Turkey in fifth place with 67.8 percent.

TURKEY HAS THE HIGHEST INFLATION IN EUROPE

In Kazakhstan, which is in 30th place, annual inflation is 9 percent. This shows how dire the situation is for the first five countries, including Turkey. Annual inflation is higher than 50 percent in only seven countries worldwide.

Looking at the entire list, Turkey is by far the country with the highest inflation in Europe. Among EU member or candidate countries, the country with the highest inflation after Turkey is Romania with 6.6 percent. It ranks 43rd in the world.

WE HAVE SURPASSED AFRICAN COUNTRIES

Although inflation in Turkey is high, some African countries were generally in worse shape than Turkey. However, according to the latest data, there are no African countries ranked above Turkey. Sudan is in sixth place with 63.3 percent. The annual inflation rates in some other countries are as follows: Zimbabwe 55.3 percent; Ethiopia 26.2 percent; Pakistan 20.7 percent.

News Source: 12punto