Venezuela's Annual Inflation Rate Is Now 8,900 Percent

Reuters: Venezuela inflation 454 percent in first quarter: National Assembly

CARACAS - Prices rose 454 percent in the first three months of this year in Venezuela, according to the country’s opposition-led National Assembly, whose numbers are broadly in line with those of independent economists.

The country is undergoing a major crisis, with millions of people suffering from food shortages, hyperinflation and a currency that weakens significantly every day.

Annual inflation over the last 12 months, according to the National Assembly, is just shy of 8,900 percent. Monthly inflation in March was 67 percent, down from 80 percent the previous month. The country’s central bank has not published inflation data for more than two years.

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