Inflation in Venezuela in third quarter of 2015 exceeded level of 140%

Inflation in Venezuela in third quarter of 2015 exceeded level of 140%

The Central Bank of Venezuela for the first time published inflation statistics. According to the Central Bank, inflation in the third quarter totaled 141.5 percent. Previous statistics in December 2014 indicated a 68-percent increase in prices over the year. The IMF currently predicts a fall in GDP of Venezuela in 2016 to 8%. The country's economy is in a serious situation because of the collapse in oil prices, which provides 90 percent of export earnings of the country.

 

 

 

Photo: www.bcv.org.ve