IMF projects Venezuela inflation will hit 1,000,000% in 2018
Updated : July 24, 2018 06:18 PM IST
The South American nation's economy has been steadily collapsing since the crash of oil prices in 2014 left it unable to maintain a socialist system of subsidies and price controls.
Consumer prices have risen 46,305 percent this year, according to the opposition-run legislature, which began publishing its own inflation data in 2017 because the nation's central bank had halted the release of basic economic data.
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