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Inflation in Venezuela has exceeded 800%

Инфляция в Венесуэле с начала года превысила 800%

Consumer prices in Venezuela, which is experiencing a serious socio-economic crisis, are rising exponentially. About this in his microblog on Twitter said Deputy of the National Assembly, angel Alvarado.

“The accumulated inflation to November of 2017, achieved 825%, — he wrote. In October inflation amounted to 45.5%, the highest level in the history of our country, it marks the beginning of hyperinflation”.

The Central Bank of Venezuela for over a year does not publish data on consumer prices and other economic indicators of the country, reports TASS.

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Last year inflation reached 254,4%, becoming hardly probable not the highest in the world. The growth rate of prices has forced the authorities late last year to begin the replacement of banknotes. If until December 2016 the largest bill in the country was 100 bolívares, in the current year entered into circulation banknotes in denominations of 500, 1000, 2000, 3000, 5000, as well as 10 thousand and 25 thousand bolivars. In early November this year announced the entering into circulation of banknotes of 100 thousand bolivars.

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On a fixed government rate of 100 bolívares equal about $10, however, the black foreign exchange market exchange rate exceeds the level of 40 thousand bolivars per dollar.

According to the latest forecasts of the International monetary Fund, in 2017, inflation in Venezuela is expected to reach 652,7%, and in 2018 already 2349,3%.

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