In Venezuela’s faltering economy, prices rose by 223.1% last month alone, according to Ángel Alvarado, an economist and opposition politician (the government has long ceased publishing official statistics). Inflation could reach 1m percent for the full year, according to a (somewhat loose) forecast by the IMF. Such a figure is far from unprecedented, however. In the worst month of its postwar hyperinflation, Hungarian prices rose by 41,900,000,000,000,000%. The government had to print a 100 quintillion note (with 20 zeroes), the highest denomination ever produced.
Tuesday, September 25, 2018 at 12:12am UTC