World

Inflation in Venezuela has exceeded 1,400% since the beginning of the year

The rise in prices in in the first nine months of 2020 exceeded 1,400%. Such data were released on Thursday by the finance committee of the National Assembly (unicameral parliament), which is controlled by political opponents of President Nicolas Maduro and his government.

“Inflation in September was 30%, and since the beginning of the year — 1,433.58%,” — said in a message published on Twitter of the parliament. In annual terms, the increase in prices amounted to 3,246%.

In February, the Central Bank of reported that inflation in 2019 in the country was 9,585.5%. At the same time, according to parliamentarians, who have independently prepared reports on national economic indicators since 2017 due to a lack of official information, prices increased by 7,374.4% last year.



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