Hyperinflationary economies: IPTF’s latest Discussion Document on Monitoring Inflation in Certain Countries published
08 January 2021
The International Practices Task Force (IPTF) of the Centre for Audit Quality (CAQ) compiles the inflation data by country and categorizes the countries based on their cumulative inflation rates in accordance with the implementation guidance in ASC 830. The categorization criteria followed by IPTF are similar to those under IAS 29 ‘Financial Reporting in Hyperinflationary Economies’.
IPTF’s latest Discussion Document on Monitoring Inflation in Certain Countries (dated November 10, 2020) is now available on CAQ’s website.
The Discussion Document identifies the following countries as having three-year cumulative inflation rates exceeding 100%:
- Argentina
- Iran
- Lebanon
- South Sudan
- Sudan
- Venezuela
- Zimbabwe
The Discussion Document also lists countries in other categories such as countries with projected three-year cumulative inflation rates greater than 100% in current year, countries with three-year cumulative inflation rates exceeding 100% in recent years etc.
The Discussion Document may be accessed here.