Inflation is one of the most common words these days, especially after 2021 and the global impact of covid-19 on the economy. Now let's see some reports of how that indicator moves in some countries, with a search on the internet, I found that Argentina and Venezuela mark as the countries with the highest figures in per hundreds.
In the case of Argentina, the measures taken had a negative impact on low-income people, which increased import prices, followed by strong measures to restrict public spending, the paralyzation of works and the increase of the official exchange rate of the dollar. Inflation figures remain above 230% reaching 263%.
On the other hand, in Venezuela, although there is a deceleration and it is estimated to have a small reduction at the end of 2024, it is still above 62% annual accumulated, with a high cost of living, which represents a decrease in the quality of life for some families, which has led to implement several aid packages from the government, since it takes about 30 minimum wages to assume the basic food basket.
My country cannot be missing in this mini list, the curious thing is that the international media, or at least the lists I found in the search for this post, do not record data on the Cuban economy. I am not surprised either, since for the world it seems that we Cubans do not exist. As a Cuban I have lived the direct impact of inflation and price increases, the official figures do not appear in many places, but they are above 30% accumulated annually.
If for the case of Venezuela it is said that 34 minimum wages are needed, a conservative estimate in Cuba at least 8 are needed, which could mean, and in fact is, a great burden for most workers.
Tell me how inflation is treating you in your country, the increase in prices and access to basic services. Thanks for your support, I look forward to your comments.