Venezuela's economy may have started the
year on a much-worse note than the country's legislature thought. The National
Assembly, which is led by the opposition to leftist President Nicolas Maduro,
said last week that inflation hit nearly 93 percent in the first four months of
2017, but that number might be somewhat conservative. "If you look at the
black market and the devaluation of the bolivar against the dollar, [inflation]
is probably two to three times higher," said Monica de Bolle, senior
fellow at the Peterson Institute for International Economics. "The
statistical agencies haven't been publishing data for a long time, but you can
gauge inflation through the currency exchange rates."More…
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