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Inflation Rate facts

While investigating facts about Inflation Rate In India and Inflation Rate Uk, I found out little known, but curios details like:

The World Bank stopped tracking inflation in Zimbabwe in November 2008, when it reached 79.6 billion percent. One year later, the country abandoned its currency. The exchange rate at the time was $35 quadrillion Zimbabwean dollars to $1 USD.

how inflation rate is calculated?

The rate of inflation in Bolivia went an estimated 25,000% to a single digit within a period of less than 6 weeks because of economic "shock therapy" designed by their former president

What inflation rate is good?

In my opinion, it is useful to put together a list of the most interesting details from trusted sources that I've come across answering what's inflation rate 2019. Here are 44 of the best facts about Inflation Rate 2019 and Inflation Rate Calculator I managed to collect.

what's inflation rate?

  1. 30,000 in 1964 is equivalent in purchasing power to about $248,476.45 in 2019, a difference of $218,476.45 over 54 years. The 1964 inflation rate was 1.31%. According to the Bureau of Labor Statistics consumer price index, today's prices in 2019 are 728.25% higher than average prices in 1964

  2. Zimbabwe abandoned it's currency in 2009 when conversion rate inflated to Z$ 35 quadrillion = US$1

  3. Toronto subway token fare prices have risen faster than inflation since 1990. While the consumer price index has risen at an annualized rate of 1.8% in Canada, TTC fares have increased at 4.5%. A investment in tokens would have been more profitable than to deposit money in a savings account

  4. Zimbabwe had a 79,600,000,000% inflation rate in 2008

  5. In mid-November 2008, the rate of inflation for the Zimbabwean dollar peaked at 89,700,000,000,000,000,000,000%, at which prices were doubling every 24.7 hours.

  6. In 1994, during a massive hyperinflation in Yugoslavia when the currency was up in billions, a 74 year old retired banker famously called "Grandpa Avram" (Dragoslav Avramovic) changed the monthly inflation rate from 302.000.000% to only 0.2% and introduced a currency called "New Dinar".

  7. Zimbabwe printed a 100 Trillion dollar bill in 2008, at a time when the inflation rate was 500 billion percent.

  8. The world’s weakest currency is the Venezuelan Bolivar and its economic collapse 2016 has given Venezuela an inflation rate of 720%.

  9. In 1945, progressive tax rates topped out at 94% for all income over $200k ($2.8m adjusted for inflation in 2019)

  10. In the 1960's the average international call rate was around $3/minute or $180/hour, if you take in inflation into account that would cost $1,382.12/hour today.

inflation rate facts
What inflation rate means?

Inflation Rate data charts

For your convenience take a look at Inflation Rate figures with stats and charts presented as graphic.

inflation rate fact data chart about Star Wars IMDb Rating vs. Gross Box Office (adjusted for inf
Star Wars IMDb Rating vs. Gross Box Office (adjusted for inflation)

inflation rate fact data chart about The relation between GDP gap and inflation rate in Japan
The relation between GDP gap and inflation rate in Japan

Why inflation rate is low?

You can easily fact check why inflation rate is high by examining the linked well-known sources.

Zimbabwe suffered a hyperinflation that, at its worst in 2008, had an inflation rate estimated to be 79,600,000,000% per month. 1 US dollar became equivalent to 2,621,984,228 Zimbabwean dollar and they even printed a One Hundred Trillion Dollar note (14 zeroes).

At the time of it's collapse, the Zimbabwean dollar was suffering from an inflation rate of 89,700,000,000,000,000,000,000%. A person would starve to death on just a billion Zimbabwean dollars. - source

Between 1881 and 1901 there was not a single year with an inflation rate over 0%. 16 years were flat, with 0% inflation. 4 years of the 20 there was deflation between 3-4%. Other sources (BLS) have a couple of the years with low inflation, but more deflation over the 20 year period.) - source

The Post-World War II hyperinflation of Hungary holds the record for the most extreme monthly inflation rate ever - 41,900,000,000,000,000% (41.9 quadrillion percent) for July 1946, amounting to prices doubling every 15 hours.

Zimbabwe had an inflation rate of 231 million percent in 2008. They introduced a $100 trillion note and soon after accepted the American dollar as their official currency. - source

When inflation rate is high?

During Zimbabwe's period of hyperinflation, their inflation rate was 231,000,000%.

How inflation rate affect exchange rate?

In 1993, through the Yugoslavian civil war, inflation rate reached above a billion percent, and there was a 500 billion dinar note.

'Forensic Economics,' a subfield of economics that uses economic cues to infer hidden behaviors. In one case a forensic economic analysis of online shopping data was used to determine that the Argentinean government was understanding its actual inflation rate by a factor of 2-3.

The highest inflation rate in history was in Hungary during 1946, prices increased by 4.19 quintillion percent (419 followed by sixteen zeroes).

Inflation in Zimbabwe rose from an annual rate of 32% in 1998, to an official estimated high of 11,200,000% in August 2008.

Between 1945 and 1946, the Hungarian pengő (currency) experienced the worst inflation ever recorded. The inflation rate peaked at 13 quadrillion % (Meaning prices doubled every 15 hours), and when the currency was replaced, the total value of all notes in circulation was only 0.1 US cents

When inflation rate is negative?

The cost of college has risen 4 times faster than the rate of inflation, that the cost of higher education is higher than the cost of health care, and that there is one trillion dollars in student loan debt- more than there is credit card debt in our country.

If the price of a supermarket whole chicken had inflated at the same rate as house prices from 1971 to 2000 in England, it would cost about $79.90 (£51.19)

The ######The Titanic cost more to produce than the actual RMS Titanic when looking at inflation and exchange rates.

the 2011 Argentinian government once forced McDonalds to lower Big Mac prices when the Big Mac Index made their inflation rate look bad.

Post-Soviet Hungary experienced the most severe case of hyperinflation in history, with a peak monthly inflation rate of 4.19 × 10^16%. At this rate, prices would double every 15 hours.

How inflation rate is measured?

If you take into account inflation rates, gasoline is $0.01 away from reaching an all-time low price.

Japan's Philips Curve (an observation that in the short run, unemployment rates and inflation rates are negatively correlated) for the period 1980-2005 looks like Japan.

John Maynard Keynes, an economist, predicted World War II twenty years before it occurred - citing unemployment and high inflation rates as the cause.

The Misery Index (the rate inflation + unemployment) was at the lowest level in August since Eisenhower was in office

California's generic drug prices recently increased over 37% on avg compared to the annual inflation rate of 2%

The inflation rate is currently 2.1% based on the Consumer Price Index so the average annual raise of 3% is actually less than 1%

Alabama's high school dropout rate is so bad, they had to artificially inflate its graduation rates. It's dropout rate is not at 89%.

In Germany in 1923, the rate of inflation hit 3.25 × 106 percent per month (prices double every two days). The exchange rate was 4.2 TRILLION Marks to 1 US.

Richard Nixon once used the third derivative to advance his case for reelection by referencing the rate of increase of inflation.

Proms are getting cheaper relative to other consumer products; over a decade, the rate of cost inflation was half that of the general inflation rate

Inflation rate of Zimbabwe rose from an annual rate of 32%(1998), to 11,200,000%(2008) - a state of hyperinflation, and the central bank had to introduce 100 billion dollar notes

In the last 50 years the percent of upper class households has tripled, while the percentage of lower and middle class households has grown smaller (based on U.S. Census Bureau rates of inflation and their $25k-$100k class defining income levels.)

In 1980, in order to attract banking jobs, South Dakota passed legislation, drafted by Citibank, to eliminate caps on interest rates. Citibank was losing more than $1 billion on its credit cards because the inflation rate exceeded the amount of interest Citibank could charge under existing law.

Sweden has had negative interest rates in an attempt to boost inflation.

Iran has had their inflation rate 16% in the last 6 months.

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