amazing
Tuesday Jul 05 2022
By
Web Desk

Richest country in world had -0.09% inflation in 2021

By
Web Desk
Aerial view of Luxembourg.—Unsplash
Aerial view of Luxembourg.—Unsplash

  • Luxembourg's income levels are high and unemployment rates are low.
  • The lowest inflation rate was -0.09% in February 2021.
  • It has multiple industries, import-export economy, and small agricultural sector.


The richest country in the world is located in Western Europe. Its income levels are high and unemployment rates are low.

International Business Times reports that Luxembourg, a country with a Gross Domestic Product of $135,682.8 in a population of 629,191, is the wealthiest in the globe.

A high GDP per capita, which is a country's economic output per person, indicates financial prosperity.

According to World Economic Forum, the main reason for the state's high GDP is that a lot of people who work in the country live in neighbouring European countries.

It is a small country with castles, churches, forests, and highly advanced infrastructure.

Luxembourg has multiple industries, an import-export economy, and a small agricultural sector.

Statista reported that the inflation rate of the country was only 6.8% in May 2022 when the prices were globally soaring. This is the highest rate recorded in the nation. 

The lowest inflation rate was -0.09% in February 2021.