Mapped: Which Countries Have the Highest Inflation Rate?

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Inflation is surging nearly everywhere in 2022.

Geopolitical tensions are triggering high energy costs, while supply-side disruptions are also distorting consumer prices. The end result is that almost half of countries worldwide are seeing double-digit inflation rates or higher.

With new macroeconomic forces shaping the global economy, the above infographic shows countries with the highest inflation rates, using data from Trading Economics.

Double-Digit Inflation in 2022

As the table below shows, countless countries are navigating record-high levels of inflation. Some are even facing triple-digit inflation rates. Globally, Zimbabwe, Lebanon, and Venezuela have the highest rates in the world.

*Inflation rates based on the latest available data.

As price pressures mount, 33 central banks tracked by the Bank of International Settlements (out of a total of 38) have raised interest rates this year. These coordinated rate hikes are the largest in two decades, representing an end to an era of rock-bottom interest rates.

Going into 2023, central banks could continue this shift towards hawkish policies as inflation remains aggressively high.

The Role of Energy Prices

Driven by the war in Ukraine, energy inflation is pushing up the cost of living around the world.

Since October 2020, an index of global energy prices—made up of crude oil, natural gas, coal, and propane—has increased drastically.

Compared to the 2021 average, natural gas prices in Europe are up sixfold. Real European household electricity prices are up 78% and gas prices have climbed even more, at 144% compared to 20-year averages.

Amid global competition for liquefied natural gas supplies, price pressures are likely to stay high, even though they have fallen recently. Other harmful consequences of the energy shock include price volatility, economic strain, and energy shortages.

“The world is in the midst of the first truly global energy crisis, with impacts that will be felt for years to come”.

-Fatih Birol, executive director of the IEA

Double-Digit Inflation: Will it Last?

If history is an example, taming rising prices could take at least a few years yet.

Take the sky-high inflation of the 1980s. Italy, which managed to combat inflation faster than most countries, brought down inflation from 22% in 1980 to 4% in 1986.

If global inflation rates, which hover around 9.8% in 2022, were to follow this course, it would take at least until 2025 for levels to reach the 2% target.

It’s worth noting that inflation was also highly volatile over this decade. Consider how inflation fell across much of the rich world by 1981 but shot up again in 1987 amid higher energy prices. Federal Reserve chair Jerome Powell spoke to the volatility of inflation at their November meeting, indicating that high inflation has a chance of following a period of low inflation.

While the Federal Reserve projects U.S. inflation to fall closer to its 2% target by 2024, the road ahead could still get a lot bumpier between now and then.

Mapped: The World’s Rocket Launch Sites

From Sputnik 1 to today’s massive satellite constellations, every object in space was launched from just a handful of locations.

The map above, from BryceTech, is a comprehensive look at the world’s spaceports (both orbital and sub-orbital) as well as ballistic missile test sites.

The World’s Major Spaceports

Though the graphic above is a detailed list of many types of rocket launch sites, we’ll focus on major sites that are sending satellites and passengers into sub-orbit, orbit, and beyond.

Editor’s note: The above table includes all sites that are operational, as well as under construction, as of publishing date.

The list above covers fixed locations, and does not include SpaceX’s autonomous spaceport drone ships. There are currently three active drone ships—one based near Los Angeles, and the other two based at Port Canaveral, Florida.

Two of the most famous launch sites on the list are the Baikonur Cosmodrome (Kazakhstan) and Cape Canaveral (United States). The former was constructed as the base of operations for the Soviet space program and was the launch point for Earth’s first artificial satellite, Sputnik 1. The latter was NASA’s primary base of operations and the first lunar-landing flight was launched from there in 1969.

The global roster of spaceports has grown immensely since Baikonur and Cape Canaveral were the only game in town. Now numerous countries have the ability to launch satellites, and many more are getting in on the action.

Wenchang Space Launch Site, on the island of Hainan, is China’s newest launch location. The site recorded its first successful launch in 2016.

Location, Location

One interesting quirk of the map above is the lack of spaceports in Europe. Europe’s ambitions for space are actually launched from the Guiana Space Centre in South America. Europe’s Spaceport has been operating in French Guiana since 1968.

Low altitude launch locations near the equator are the most desirable, as far less energy is required to take a spacecraft from surface level to an equatorial, geostationary orbit.

Islands and coastal areas are also common locations for launch sites. Since the open waters aren’t inhabited, there is minimal risk of harm from debris in the event of a launch failure.

As demand for satellites and space exploration grows, the number of launch locations will continue to grow as well.