January 21, 2016
IMF: Venezuela inflation to surpass 700 per cent
CARACAS, Venezuela (AP) — The International Monetary Fund says Venezuela inflation will blow past 700 per cent this year.
In a note published Friday, IMF Western Hemisphere Director Alejandro Werner said inflation would more than double in the economically struggling South American country in 2016, reaching 720 per cent.
Venezuela already suffers from the world’s highest inflation rate. The IMF estimates that inflation here was running at 275 per cent last year.
Last week, Venezuela’s Central Bank published economic data for the first time in more than a year. The bank said inflation reached 141.5 per cent by September of last year.
