5 Countries With the Highest Inflation in the World

2. Venezuela

Inflation Rate (2023): 337.5%

Venezuela’s hyperinflation crisis began in 2016 due to excessive money printing as a means of combatting fiscal issues. However, this caused inflation to rise drastically, reaching 65,000% in 2018. Additionally, the Venezuelan economy has been weakened by several years of budget deficits and decreasing oil prices, on which the country is heavily dependent.