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Israel’s Inflation Rate Reported As the Third Highest in the World

Israel has the highest inflation of any Western nation and stands as number three of countries around the world that are suffering from astronomical inflation, according to a study published here by the International Labor Organization.

Bolivia is first on the list, with a record high of 296.5 percent inflation rate. Argentina is second, with an inflation rate of 209.7 percent, followed by Israel with a 131.3 percent inflation rate. (The study was completed before the current economic crisis in Israel where inflation is expected to soar to an annual rate of 160-170 percent this year.)

Among the countries listed in the study, Japan has the lowest inflation rate at 1.8 percent.

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