The world economy
is experiencing an inflationary pressure (which simply means rising price level and falling purchasing power of money) due to a fast rising oil prices. Impressive world economic growth cannot ignore inflation pressure in the present world. Though in the past developing countries were highly suffered due to inflationary pressure, still in the present days the developed nations have also affected a lot. India and China the two developing nations have maintained their economic growth without being largely affected by inflation.
In Russia, Turkey, Zambia etc the average annual rate of inflation is 20-50%. In Mexico, Colombia, Venezuela, Paraguay, Libya, Sudan, Namibia, Botswana, Mozambique, Madagascar, Mongolia, Kazakhstan etc, the average annual rate of inflation is 7.5-20%. Argentina, Oman, Vietnam and Japan are countries that have experienced negative inflation.