Venezuela grapples with 56% inflation

First Venezuela, then Argentina. Both countries devalued last week. But, while Buenos Aires eased some controls to try to tame the plunge of the peso, Caracas tightened controls in a bid to rein in galloping inflation. “The comparison between Venezuela and Argentina is a valid one,” says Leonardo Vera, a Caracas-based economist. Yet, he adds: “Argentina still has some ammunition to fight the current situation, while Venezuela is running out of bullets.” More...