Venezuela is closer to the hyperinflation

The big increase in prices puts closer to the hyperinflation to Venezuela, a country that suffers the deterioration of the purchasing power. However, the Central Bank has not reported the inflation for three months (the last data was published in late August, 63.4% annualized).

Venezuelan people report how day by day the bolivar collapses. The Big Mac from McDonalds reflects the inflationary spiral: in September 2013 it used to cost 125 bolivars with french fries and soda, while last November’s price was 245 bolivars.

“In November, the salary buys about 13% fewer products than 12 months ago,” said Henkel Garcia, Director of the Econometricfirm.