Inflation is rising in two out of every three countries surveyed by the International Labor Organization despite a decade of efforts to control it, the U.N. agency reported today.
The ILO found a number of countries with steadily rising inflation in the first few months of 1990.
Among them, Sri Lanka's rate rose to 22.6% contrasted with 15.1% last December, Hungary's to 26.8% from 18.1%, Sweden's climbed to 10.1% from 6.6%, Chile's to 24.8% from 21.4% and Britain's to 9.4% from 7.7%.
Argentina topped the list with a 1989 hyper-inflation rate estimated at 4,924%, compared with 387.7% in 1988. Peru followed with 2,775%, while Yugoslavia recorded 2,599% and Brazil 1,973%. Nine nations--Tanzania, Mexico, Syria, Gambia, India, Norway, Panama, Malta and Malawi--reduced inflation in 1989 for the second consecutive year.