When inflation occurs in a country, the value of the currency decreases. That means that the purchasing power consumers have with a fixed amount of money decreases. Wages, especially lower and middle class wages, usually increase at a MUCH slower rate than prices of consumer goods; so consumers are likely to make the same wage, but are not able to buy the same amount of goods and services. Consumers in countries with hyperinflation suffer greatly because of this economic phenomenon. --- Data was downloaded from: [Link] (https://data.worldbank.org/indicator/FP.CPI.TOTL) For notes/metadata regarding the definition, measurement, or data collection for a certain country or group can be found by downloading the excel file from the linked webpage. Original data provider: International Monetary Fund, World Development Indicators. License : CC BY-4.0. --- INDICATOR_CODE: FP.CPI.TOTL.ZG INDICATOR_NAME: Inflation, consumer prices (annual %) SOURCE_NOTE: Inflation as measured by the consumer price index reflects the **annual percentage change in the cost to the average consumer of acquiring a basket of goods and services** that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used. --- Years included: 1960-2016 --- **The following countries have no values for any year:** * Somalia * Puerto Rico * Guam * US Virgin Islands **The dataset also conains some records that refer to groups of countries, which may be useful for those with no recorded values. Some of those groups are:** - Fragile and conflict affected situations - Heavily indebted poor countries (HIPC) - Caribbean small states - Latin America & Caribbean (excluding high income) - Latin America & the Caribbean (IDA & IBRD countries) - East Asia & Pacific (excluding high income) - East Asia & Pacific (IDA & IBRD countries) - Least developed countries: UN classification - Middle East & North Africa (IDA & IBRD countries) --- If this data is being used for the Kiva Crowdfunding Data Science for Good event; The following countries (as they are named in this dataset), are named slightly differently in the Kiva dataset (to the best of my knowledge). For example, West Bank in Gaza is referred to as Palestine in the Kiva Dataset. - Congo, Dem. Rep. - Congo, Rep. - Kyrgyz Republic - Lao PDR - Myanmar - West Bank and Gaza - St. Vincent and the Grenadines - Virgin Islands (U.S.) - Yemen, Rep.