Hyperinflationary economies: IPTF’s November 2023 Discussion Document published
Hyperinflationary economies: IPTF’s November 2023 Discussion Document published
The International Practices Task Force (IPTF) of the Centre for Audit Quality (CAQ) compiles the inflation data by country and categorises the countries based on their cumulative inflation rates in accordance with the implementation guidance in ASC 830. The categorisation criteria followed by IPTF are similar to those under IAS 29 Financial Reporting in Hyperinflationary Economies.
IPTF’s latest Discussion Document on Monitoring Inflation in Certain Countries is now available on CAQ’s website. The data referred to in the Discussion Document is derived from the IMF World Economic Outlook Report Database – October 2023.
The Discussion Document identifies the following countries as having three-year cumulative inflation rates exceeding 100%:
The Discussion document identifies Haiti in the category of countries with projected three-year cumulative inflation rates greater than 100% in the current year.
The Discussion document identifies South Sudan in the category of countries with three-year cumulative inflation rates exceeding 100% in recent years, but with three-year cumulative inflation rates between 70% and 100% in the last calendar year.
There are no countries in the category of countries with recent three-year cumulative inflation rates exceeding 100% after a spike in inflation in a discrete period.
Countries with three-year cumulative inflation rates between 70% and 100% in the current year, or with a significant (25% or more) increase in inflation during the last calendar year, or a significant increase in projected inflation in the current year, or with projected three-year cumulative inflation rates greater than 100% in the next year are:
The Discussion Document may be accessed here.
IPTF’s latest Discussion Document on Monitoring Inflation in Certain Countries is now available on CAQ’s website. The data referred to in the Discussion Document is derived from the IMF World Economic Outlook Report Database – October 2023.
The Discussion Document identifies the following countries as having three-year cumulative inflation rates exceeding 100%:
- Argentina
- Ethiopia
- Ghana
- Iran
- Lebanon
- Sierra Leone
- Sudan
- Suriname
- Turkey
- Venezuela
- Yemen
- Zimbabwe
The Discussion document identifies Haiti in the category of countries with projected three-year cumulative inflation rates greater than 100% in the current year.
The Discussion document identifies South Sudan in the category of countries with three-year cumulative inflation rates exceeding 100% in recent years, but with three-year cumulative inflation rates between 70% and 100% in the last calendar year.
There are no countries in the category of countries with recent three-year cumulative inflation rates exceeding 100% after a spike in inflation in a discrete period.
Countries with three-year cumulative inflation rates between 70% and 100% in the current year, or with a significant (25% or more) increase in inflation during the last calendar year, or a significant increase in projected inflation in the current year, or with projected three-year cumulative inflation rates greater than 100% in the next year are:
- Angola
- Burundi
- Egypt
- Lao P.D.R.
- Malawi
- Moldova
- Nigeria
- Pakistan
- Sao Tome and Principe
- Sri Lanka
- Ukraine
The Discussion Document may be accessed here.