5 Countries With Soaring Inflation Higher Than India

Syria:
Latest reported inflation rate: 49.50 percent
GDP (purchasing power parity): $107.6 billion
Budget deficit: -8 per cent of GDP

A Western Asian country, Syria with an inflation rate of 49.50 percent, is among the nation with a very high inflation. The main cause for the inflation in this country is the crisis experienced by the effects on the national economy, chiefly the shutdown of many establishments, shortage in the quantities of goods and their rising prices.

The difficulty of transportation and the increase in its costs, increasing prices of oil derivatives, the devaluation of the pound and the economic sanctions imposed by most world countries on Syria also some of the factor attributing in the rise of inflation. In addition, the Syrian conflict that has been growing in intensity led to high inflation.

Sudan:
Latest reported inflation rate: 37.70 percent
GDP (purchasing power parity): $89.97 billion
Budget deficit: -4.4 per cent of GDP

An Arab republic in the Nile Valley of North Africa, Sudan once home to numerous ancient civilizations. But today, this nation is also inflicted with the problem of high inflation soaring year by year. As per the report by Sudan Central Bureau of Statistics, the inflation rate, as of early 2014 was recorded at 37.70 percent. Inflation Rate in Sudan averaged 31.67 percent from 1971 until 2014, reaching an all time high of 181.50 percent in December of 1993.

Apart from hydrocarbon sector, economic development is very much limited because of the ongoing instability in this nation. On top of that, attempts to develop and expand the economy are limited because of a lack of basic institutional capacity. All these in a way contributed to the high inflation rate.

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