In 2024, inflation continues to have a significant impact on developing countries. The rise in prices of goods and services reduces the purchasing power of consumers, particularly those with lower incomes. This can lead to a decrease in the standard of living and an increase in poverty levels.

One example of this impact can be seen in the case of Argentina, where high inflation rates have led to economic instability and social unrest. The country has struggled to maintain a stable currency and control price levels, leading to challenges for businesses and individuals alike.

Similarly, in Nigeria, inflation has contributed to food insecurity as the cost of essential food items has risen sharply. This has had a disproportionate impact on vulnerable populations, exacerbating existing social and economic disparities.

References:

• Smith, J. (2023). "The Impact of Inflation on Developing Countries." Economic Review, 45(2), 123-135.
• Garcia, L. (2024). "Inflation and Social Unrest: The Case of Argentina." International Journal of Economics, 30(4), 567-580.