MOSCOW (Pakistan Point News / Sputnik - 06th May, 2023) Russia has ranked 102nd in terms of global price surge with its annual inflation estimated at 3.5% in March, while lower inflation levels in Europe were recorded only in Spain (3.3%), Liechtenstein (2.9%) and Switzerland (2.9%), data from the statistical services analyzed by Sputnik showed on Saturday.
The data showed that the highest inflation levels as of March were recorded in Lebanon (264%) and Argentina (104.3%), Zimbabwe (87.6%), Suriname (59.4%) and Turkey (50.5%).
In addition, the rising inflation figures were observed in Sri Lanka (49.2%), Ghana (45%), Sierra Leone (41.5%) and Laos (41%), according to the statistics. Moreover, Pakistan entered the top 10 countries in terms of annual inflation for the first time in several years with inflation of 35.4%.
High inflation rates as of March were also recorded in such European nations as Hungary (25.2%), Moldova (22%), and Ukraine (21.3%), while the lowest inflation level (0.7%) was globally recorded in China, the data showed.
The analysis was conducted based on the data from statistical services of 193 UN member states. The final sample includes 142 countries, which issued inflation data for March as of early May.
In April, the International Monetary Fund (IMF) said that global headline inflation was projected to decline from 8.7% in 2022 to 7% in 2023, with the world not expected to hit target inflation levels until 2025. The projected disinflation reflects declining fuel and non-fuel commodity prices, as well as the cooling impacts of monetary tightening on economic activity, the IMF added.
