Some people believe that happiness comes from within. In the world of economics, however, happiness may be more linked to quantitative factors such as inflation, lending rates, employment levels, and growth in gross domestic product (GDP). This week’s chart uses data from Steve Hanke of the Cato Institute, and it visualizes the 2019 Misery Index rankings, across 95 countries that report this data on a consistent basis.
Venezuela holds the title of the most “miserable” country in the world for the fourth consecutive year in a row. According to the United Nations, four million Venezuelans have left the country since its economic crisis began in 2014. Turmoil in Venezuela has been further fueled by skyrocketing hyperinflation. Citizens struggle to afford basic items such as food, toiletries, and medicine.
The Cafe Con Leche Index was created specifically to monitor the rapidly changing inflation rates in Venezuela. Not only does Venezuela have the highest score in the Misery Index, but its score has also seen a dramatic increase over the past year as the crisis has accelerated.
infographic by: www.visualcapitalist.com