Mar 06 , 2024

US, India & China ranked in terms of inflation

By True Scoop

The US & China economy were said to be falling into recession, with India registering a world-beating GDP growth, however the facts tell a different story.

3 years after COVID (2022), the US GDP has grown to $25.46 trillion, China’s to $18.1 trillion & India’s to $3.39 trillion.

US & China added $4.08 trillion & 3.76 trillion respectively with India managing only $0.55 trillion

The INR also depreciated by about Rs 14, with $1 being Rs. 69 in 2019 to being nearly Rs. 83 in 2023 (about 20%).

In a one-year period (2022-2023), India faced an inflation rate of 7.5% which is second highest among the G20 next to Turkey.

Taking a broader view, over 3 years (2020-2023), India along with Mexico, Germany & South Africa saw a price hike of 18% or more.

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