Thursday, November 8, 2018

Venezuela's annual inflation hit 833,997pc in October: Congress


Venezuela's consumer prices rose 833,997 per cent in the 12 months through October, according to a report by the opposition-controlled Congress published on Wednesday, the latest sign that policy changes in August failed to halt rampant hyperinflation. Monthly inflation decelerated to 148 per cent from 233 per cent in September, the data showed, but left the OPEC nation on track to reach the 1 million per cent inflation in 2018 expected by the International Monetary Fund (IMF) after five straight years of recession. "The figure is still scandalously high," said opposition lawmaker Angel Alvarado. More…

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