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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