Venezuela Almost At Hyperinflation Stage

Steve H. Hanke writes at the Cato Institute:

Currently, official government data put Venezuela’s inflation rate at a mere 50% ...


... The implied annual inflation rate in Venezuela is actually now in the triple digits, coming in at a whopping 283% ....


What’s more, the implied monthly inflation rate has now ramped up to 36%, .... That’s dangerously close to the hyperinflation threshold of 50% per month. This is due to an accelerating depreciation of the bolivar, reflecting Venezuelan’s deteriorating economic outlook.