Estimates: South Sudan is the Only Country With Annual Deflation in October 2022
Flag of South Sudan
The global inflation crisis began in mid-2021 and became more serious after food and energy prices grew rapidly in 2022. Many – although not all – African countries were especially vulnerable as their recovery from the COVID-19 pandemic’s fallout was hindered by new challenges.South Sudan in October last year was the only country in the world where deflation was recorded in annual terms – at 12.7%, as follows from calculations made by Sputnik.The study was conducted based on data from the national statistical services of 193 countries that are members of the UN. The final sample included 155 countries from seven regions of the world: Asia, Sub-Saharan Africa, the Middle East and North Africa, Europe, Oceania, as well as North and South America. As of mid-December, the states had disclosed data for October.The lowest inflation in the world in October was recorded in Panama, where it amounted to only 1.67%. Prices rose 2.1% in China and Benin, 2.4% in Oman, and 2.9% in Bolivia, the Seychelles, and the Maldives.Four countries in mid-fall recorded annual inflation of 3% – Switzerland, Liechtenstein, Niger, and Saudi Arabia. Price growth rates under 4% were in Kuwait, Cambodia, Japan, Bahrain, Malaysia, and Ecuador.In total, inflation slowed down in 77 countries in October 2022. The most notable declines were in Zimbabwe (down 11.6 percentage points), Sudan (4.4 percentage points), South Sudan (4 percentage points), Lebanon (4 percentage points), and Sri Lanka (3.1 percentage points).
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