SOCIALISM: Venezuela Inflation Rate Tops 46,000% In June
Andrew Moran, Economic Collapse News
What do you get when you mix price controls, production quotas, and a totalitarian regime? Venezuela and socialism. But that’s not real socialism.
The oil-rich Latin American nation is suffering from the worst case of hyperinflation since Zimbabwe of a decade ago. It’s so bad that Venezuela’s annual inflation rate topped 46,000 percent. If you annualize the last three months, then inflation has soared more than 482,000 percent.
Food inflation has also skyrocketed, accelerating by 183 percent in June.