Wednesday, October 11, 2017

Inflation in Venezuela

The IMF's World Economic Outlook has projections on inflation. See page 252 of the statistical abstract for the specific numbers. For the region as a whole, the 2018 projection is 3.6%, which shows how much inflation has been tamed and how high a priority governments give it regardless of their ideology.


And then, of course, there is Venezuela, which for 2018 may be looking at 2,530%, which is a catastrophe and about double the projected final amount for 2017. In the past, hyperinflation was a scourge in numerous countries, so it's particularly striking to see how badly it hits only one country. And that's why the government stopped releasing inflation data almost two years ago.

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