This time, at the beginning of the budget speech, the Finance Minister had described India as the only country in the world which has low inflation rate along with high growth. A similar claim was made in the Economic Survey also. However, inflation of food items is still uncontrolled in India. But as soon as it is compared with other countries of the world, it becomes clear that India’s position on the global inflation front is much better.
Actually, 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 higher than India, where the inflation rate is 272 percent. After this, Syria is at second position, where the inflation rate is 140 percent. Türkiye is at third place in this list with 71.6 percent inflation rate. After this, inflation rate is 51.6 percent in Lebanon, 51.4 percent in Venezuela, 34.19 percent in Nigeria, 27.5 percent in Egypt, 12.6 percent in Pakistan, 9.72 percent in Bangladesh and 8.6 percent in Russia.
Pakistan-Bangladesh in top-10 expensive countries
India’s neighboring countries Pakistan and Bangladesh are included in the top-10 expensive countries in this list. Pakistan’s inflation rate is about two and a half times higher than India’s. According to the list released by World of Statistics on the social media platform
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 in a better position than other countries in this matter.
Food and beverage inflation increases difficulties in India
But the real problem of India is the inflation of food and beverages. India is having 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 purchases.
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.