Venezuela inflation seen hitting triple-digit levels as crisis deepens

Venezuela's inflation has reached its highest level since the country started measuring the indicator over 60 years ago, according to calculations by private economists who are seeking to make up for a lack of official figures on prices for this year. Inflation is evident in the streets, however, as consumers struggle with wads of near-worthless bills, the largest of which can no longer even buy a chocolate bar. Prices rose 108 percent in the 12 months ending in May, according to the average of estimates by nine analysts consulted by Reuters, topping the 103 percent rate of 1996 that followed an economic shock package. More…