On July 2018, the International Monetary Fund (IMF) updated its annual inflation forecast for Venezuela, which went from 13,000% to 1,000,000%. These staggering figures can only be compared to those Germany lived in 1923 or Zimbabwe in 2000s.
There have not been official records on inflation for the last 10 years or so and analysts are left to use non-conventional ways to gauge prices hikes. For some time, the Big Mac Index was used and nowadays Bloomberg Café con Leche Index is one of the alternatives people use to track price change trends in Venezuela while monitoring the increase in the consumer price index (CPI).
There have not been official records on inflation for the last 10 years or so and analysts are left to use non-conventional ways to gauge prices hikes. For some time, the Big Mac Index was used and nowadays Bloomberg Café con Leche Index is one of the alternatives people use to track price change trends in Venezuela while monitoring the increase in the consumer price index (CPI).
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