5 Countries With the Highest Inflation in the World

3. Lebanon

Inflation Rate (2023): 221.3%

Lebanon ranks third on our list of countries with the highest inflation in the world. Inflation rate increased to more than 100% in 2021, and has stayed there since. One of the biggest reasons behind the rising inflation was the country’s high number of imports, including staples like wheat. Most of Lebanon’s wheat supply came from Russia and Ukraine, where the war led to massive supply disruptions.