Picture: 123RF/lculig
Picture: 123RF/lculig

Inflation that's projected to reach an eyeball-popping 8-million percent this year has left Venezuela saddled with the title of the world's most miserable economy.

The embattled South American country topped the rankings of Bloomberg's misery index, based on inflation and unemployment outlooks for 62 economies, for the fifth successive year.

SA came in as third-most miserable, after Argentina. These three and others in the "most miserable" camp are fighting high inflation alongside lofty jobless rates.

Most other countries' policymakers this year face a tricky combination of quiet inflation and lower unemployment that complicates readings on economic health.

Thailand again claimed the title of the "least miserable" economy, though the government's unique way of tallying unemployment makes it less noteworthy than the achievements of Switzerland, which improved to second-least miserable.

The misery index relies on the concept that low inflation and low unemployment generally illustrate how good an economy's residents should feel.

This year's scores are based on Bloomberg economist surveys. Prior years reflected actual data.

Venezuela hasn't published economic data since 2016.

Analyst estimates differ substantially from Bloomberg's café con leche (coffee with milk) index, which is estimating a current inflation rate of 219,900%.

Bloomberg