This hyperinflation comes in the wake of a steep decline in the value of the Venezuelan bolivar, which has lost practically all its valueThis hyperinflation comes in the wake of a steep decline in the Venezuelan bolivar, which has lost practically all its value since Nicolás Maduro assumed the presidency.
In January, the International Monetary Fund (IMF) predicted prices in the South American country would rise year-on-year by 720 percent.
Gross Domestic Product (GDP) fell by 4% in 2014, by 5.7% in 2015 and is expected to shrink by 8% this year, and 4.5% next year, according to IMF forecasts.
The Venezuelan economy seems to be trapped in a spiral of inflation for the foreseeable future.
Less than three months later, in a report presented in Washington on Tuesday, it now says that figure will have soared to 2,200% by the end of 2017, and will climb 1,642.7% a year on average.
Fuente: http://elpais.com/elpais/2016/04/13/inenglish/1460550468_366568.html
