Socialism in Bits & Pieces.(#4 Hyperinflation)
Already the national minimum wage is not even enough to buy toilet paper.
Current economic statistics in Venezuela:
.- Monthly Inflation Rate May 2018: 110,1%
.- Accumulated inflation rate May 2018 compared to December 2017: 1.995.2%
.- Inflation rate Annualized May 2018 compared to May 2017: 24.571%
.- Daily inflation rate in May 2018: 2,4%
This information was provided by the Finance Committee of the National Assembly; since, the Central Bank of Venezuela (who is the entity in charge of publishing the main economic, monetary, financial, exchange, price and balance of payments statistics of the country), does not publish figures for some years.
Since September 2017 the country is in a process of hyperinflation that, according to international organizations such as the International Monetary Fund (IMF), could close around 14.000%.
Visualizing our current situation, I think that 14.000% will fall short.
Our main objective is that those people who are thinking of adopting a form of socialist government, reflect and can rectify their course.
Please, be attentive to the next issue.
PS: Remember that we are in hyperinflation and every minute prices increase.
Greetings,
CJAO20
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Such dreadful news and so unnecessary.
Stats like these are tragic. Keep making everyone aware @cjao20.