Where Inflation is Highest and Lowest Around the World.

Author:Buchholz, Katharina

Byline: Katharina Buchholz

High inflation rates can hurt any country's economy and point to underlying problems in economic policy. Currently, Iran, Turkey and Nigeria are three countries where high inflation rates are putting a strain on citizens and businesses, with effects ranging from exorbitant food prices, rising rents and falling sales on non-necessary items.

But very low inflation, as Singapore, Ireland and Japan are experiencing at the moment, has its own set of problems. While low inflation will encourage consumers to make purchases, it can lead to less earnings for companies and decreased hiring and it also means people don't get the benefit of paying off their debt quicker with the help of a little inflation. Ultimately, low inflation can lead prices into a downwards spiral, causing deflation and a deterioration of...

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