5 Countries With the Highest Inflation in the World

1. Zimbabwe

Inflation Rate (2023): 667.4%

Zimbabwe ranks number one on our list of countries with the highest inflation in the world. The inflation rate did decrease to 561% in 2024; however, according to IMF predictions, it is still expected to stay above 400% until 2029. The country has been heavily sanctioned by the US, the European Union, and the IMF, which is considered to be one of the reasons behind its hyperinflation.

A weak exchange rate has also contributed to price hikes. In April 2024, the country launched a new gold-back currency known as ZiG, which it hopes will be able to fight decades of high inflation. Currently, around 85% of transactions in the country are conducted through the US dollar, which continues to be a trustworthy currency for most.

At Insider Monkey, we delve into a variety of topics, however, our expertise lies in identifying the top-performing stocks. Currently, Artificial Intelligence (AI) technology stands out as one of the most promising fields. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: $30 Trillion Opportunity: 15 Best Humanoid Robot Stocks to Buy According to Morgan Stanley and Jim Cramer Says NVIDIA ‘Has Become A Wasteland’.

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.