Last Updated on 26/07/2024 by Ankita Jain
This time, at the beginning of the budget speech, the Finance Minister had described India as the only country in the world where there is high growth as well as low inflation rate. A similar claim was made in the economic survey as well. However, the inflation of food items in India is still out of control. But as soon as it is compared with other countries of the world, it becomes clear that India’s situation on the inflation front is much better at the global level.
In fact, Argentina has the highest inflation in the world and according to the data of World of Statistics, Argentina’s inflation rate is about 60 times more than India, where the inflation rate is 272 percent. After this, Syria is on the second position, where the inflation rate is 140 percent. Turkey is on the third position in this list with an inflation rate of 71.6 percent. After this, Lebanon has 51.6 percent, Venezuela has 51.4 percent, Nigeria has 34.19 percent, Egypt has 27.5 percent, Pakistan has 12.6 percent, Bangladesh has 9.72 percent and Russia has 8.6 percent inflation.
Pakistan-Bangladesh in top 10 expensive countries
India’s neighbouring countries Pakistan and Bangladesh are among the top 10 expensive countries in this list. Pakistan’s inflation rate is about two and a half times higher than India. According to the list of inflation in countries around the world released by World of Statistics on the social media platform X, India is at number 13 in this list where the inflation rate is 5.08 percent.
In such a situation, India, which has an inflation rate of less than 6 percent after registering a growth of 8.2 percent in 2023-24, is largely in a better position than other countries in this matter.
Food and drink inflation has increased difficulties in India
But the real problem of India is the inflation of food and beverages. India has to struggle hard in this matter because the food inflation rate in the country has remained above 8 percent for a long time. This inflation affects people the most in terms of everyday shopping.
Apart from this, education inflation and inflation in many other segments in India is more than 6 percent. Therefore, despite controlling the overall average, India still needs to work hard on the inflation front.