Iraq ranks 122nd globally for highest inflation rate in 2022

Shafaq News / Iraq has claimed the 122nd position globally and the 9th position in the Arab world for the highest inflation rate in 2022, according to CEOWORLD, a statistical publication.

In its report, CEOWORLD highlighted that "consumer prices have been distorted due to supply chain disruptions and increased energy costs arising from geopolitical tensions. As a result, inflation rates are rising in nearly half of the world's countries, with inflation rates reaching double digits or higher in some cases." The report excluded 28 countries from the table due to the absence of official statistics for 2022, including Iran, Angola, and Lebanon, which experienced inflation rates of approximately 155% in 2021.

On a global scale, Sudan topped the list with the highest inflation rate at 139%, followed by Zimbabwe at 105%, Turkey at 72%, Suriname at 52%, and Sri Lanka at 50%. Other countries with notably high inflation rates included Haiti at 34%, Guinea at 31%, Moldova at 29%, Sierra Leone at 27%, and the Democratic Republic of Laos at 23%. Malawi recorded a 21% inflation rate, while Ukraine stood at 20%, representing some of the world's highest inflation rates.

The CEOWORLD report also noted that "Iraq secured the 122nd position globally out of 150 countries listed in the table and ranked 9th in the Arab world for the highest inflation rate. In 2022, Iraq's inflation rate stood at 5%, a decrease from 6% in 2021 but an increase from 1% in 2020."

Within the Arab region, Sudan held the highest inflation rate worldwide and in the Arab world at 139%, followed by Egypt at 14%, Mauritania at 10%, and Algeria at 9%. Tunisia recorded a 8% inflation rate, while Morocco followed with 7%. Djibouti was at 5%, Qatar at 5%, and the United Arab Emirates ranked 10th with a 5% inflation rate. Jordan occupied the 11th position with a 4% inflation rate, according to the report.