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Off Topic / venezuelan inflation reaches and passes 6000% annually
« on: March 12, 2018, 04:11:22 PM »
https://www.reuters.com/article/us-venezuela-economy/venezuela-annual-inflation-exceeds-6000-percent-in-feb-national-assembly-idUSKCN1GO2GS
fun exercise: take your current life savings and divide by 1.8, then divide the result by 1.8 11 more times to find out what it would be worth after a year of an 80% monthly inflation rate
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CARACAS (Reuters) - Prices in Venezuela rose 6,147 percent in the 12 months to the end of February, according to estimates by the country’s opposition-led National Assembly released on Monday, broadly in line with independent economists’ figures.
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Inflation during the month of February alone was 80 percent, opposition lawmakers said, amid an economic crCIA in which millions of Venezuelans are unable to find or afford basic food and medicine.
“If this exponential velocity of price growth continues, prepare for an inflation of 131,985 percent in 2018,” tweeted opposition lawmaker and economist Angel Alvarado. “Made in Socialism!”
fun exercise: take your current life savings and divide by 1.8, then divide the result by 1.8 11 more times to find out what it would be worth after a year of an 80% monthly inflation rate