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Venezuela: inflation exceeded 900% before May

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Venezuela: inflation exceeded 900% before May
June 10
13:00 2019

Angel Alvarado (Venezuela parliamentarian) has reported that since the beginning of the year inflation in the country has exceeded 900%. In May, it was equal to 31%. The accumulated figure since January this year has totaled 905%.

The report of the Central Bank of Venezuela, which appeared last month, says that in April inflation was 34%, in January – 196%, in February – 114%, in March – 35%.

The IMF presented other data and reported that in 2018 the inflation had amounted to 930 000%. There is also an extremely “optimistic” forecast for the next year, according to which the inflation will rise to 10 million percent.

From 2013 to 2018, the Venezuelan economy has decreased by almost 50%. We recall that the main activity of the country is oil production.

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