3. ARGENTINA
With two South American countries in the top 3, it is more than evident something will need to change in the region. As of November 2016, the inflation rate in Argentina is 41%. That is a lot lower than most people may think, yet it still means things are ridiculously expensive right now. Bitcoin has been making minor inroads in the country so far, albeit there is still a very long way to go before the popular cryptocurrency becomes a mainstream trend.
2. SOUTH SUDAN
It is somewhat unusual to see the Southern part of Sudan suffer from a higher inflation rate than its Northern part. Then again, South Sudan became independent as of 2011 and the country has had to battle a lot of issues ever since. With inflation sitting at 79%, the situation is looking borderline hopeless right now. Moreover, the region’s total debt accumulation figures remain unclear even to this day.
1. VENEZUELA
No one should be surprised to see Venezuela being the “winner” when it comes to national inflation rates. It has to be said, Venezuela is in a league of its own in this regard. Official numbers project an 800% inflation rate for the country, a number that is expected to nearly double in the coming year. The country is not too keen on bitcoin and more specifically, those who mine it. Several arrests have been made throughout the years, all of which relate to bitcoin mining activity