AN: Accumulated inflation in 2017 is 1,369%

The deputy to the National Assembly, Ángel Alvarado, offered a balance of the indicator until November of this year Ángel Alvarado, deputy to the National Assembly (AN), assured that inflation for the month of November stood at 56.7%, while that accumulated inflation in the 11 months of 2017 was 1,369%.

Parliament estimates that by the end of the year inflation could be between 2,000% and 2,100%.

Alvarado pointed out that the fall in production in Venezuela and the increase in the money supply by the Central Bank of Venezuela (BCV) to finance state companies such as Petróleos de Venezuela (PDVSA) are the main reason for the increase in inflation .

He stressed that this situation results in the accelerated impoverishment of the people of Venezuela and the rise in prices.

La Nación: Venezuela will be worse in 2018

IMF predicted that there will be an accumulated inflation rate of almost 2,400%

Journalist Andrés Oppeinheimer of the Argentine newspaper La Nación said that Venezuela's situation would worsen in 2018, according to the data it handles.

"The reason is that Venezuela entered a new stage of economic decline: hyperinflation, although the country had the highest inflation rates in the world in recent years, technically until now it had not reached hyperinflation, which is when prices go up more than 50% per month, "Oppeinheimer wrote.

As source quoted Alejandro Werner, head of the Latin American department of the International Monetary Fund (IMF), who, according to the journalist, warned him that "for the first time, the Venezuelan economy has entered hyperinflationary territory at the end of 2017."

The IMF predicted that there will be an accumulated inflation rate of almost 2,400% in 2018, with a decrease in the country's Gross Domestic Product of more than 10%.

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