Hyperinflation In Developing Nations Grows Less HyperGene Koretz
The virulent inflation afflicting many less-developed nations is finally losing some of its grip. According to the International Monetary Fund, the average 12-month increase in consumer prices in the developing world posted its fourth quarterly drop in the second quarter of 1991-falling to 44.1% from 61% in the prior quarter and 122.3% in the second quarter of 1990.
The IMF says the slowdown "was especially marked in European and Latin American countries." In Poland and Yugoslavia, for example, consumer inflation fell from 1,076% and 1,777% in the second quarter of 1990 to 70% and 82%, respectively. And in Brazil, the rate plunged from 5,953% to 374%.