Venezuela’s inflation has skyrocketed amid the ongoing economic, political, and social crisis.
Consumer prices in Venezuela soared by 741% year-over-year in February 2017, according to estimates from the opposition-led congress, as cited by Trading Economics. In December 2016, the inflation rate touched an all-time high of 800%.
The rate has averaged about 32.47% from 1973 to 2017, according to Trading Economics’ data.
By comparison, consumer prices in the US rose by 2.4% in March. The all-time high for the US inflation rate was 23.70% in June 1920.
The chart below shows Venezuela’s inflation rate from the 1970s to 2017.
NOW WATCH: Baltimore’s solar-powered water wheel has now removed 1.1 million lbs of rubbish from the river
Business Insider Emails & Alerts
Site highlights each day to your inbox.