Venezuelan President Hugo Chavez at the Africa/South America Summit last month. Except for one country, Africa now has lower inflation than Venezuela. (Photo: Luis Laya/ASA Press)
Zimbabwe, here represented by capital Harare, is no longer the world's champion in inflation. Venezuela will likely take that position the next five years, an LBC analysis of IMF forecasts shows. (Photo: Gary Bembridge)
Peru will have Latin America’s lowest inflation rate this year, while Venezuela will have the highest, the IMF forecasts.
BY CHRONICLE STAFF
Venezuela will have the world’s highest inflationduring the five-year period starting next year, according to a Latin Business Chronicle analysis of new forecasts from the International Monetary Fund.
The forecasts cover 186 countries worldwide. With Zimbabwe getting its hyper-inflation under control and expected improvements in several other African countries, Venezuela stands solidly at the top of the inflation ranking.
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