CARACAS - Venezuela’s annual inflation dropped below 1 million percent in May for the first time since 2018, the opposition-run congress said on Monday, the result of the central bank restricting the domestic money supply.
The slowdown is the result of regulations requiring banks to keep a greater percentage of the bolivar currency in reserve, and because the central bank is issuing fewer new bolivars than in the past. Those figures show that the economy, which went into recession in 2014, contracted 22.5% in the third quarter of 2018 with respect to the same period a year earlier.
Look at that! See Socialism isn't all bad.
Below 1 Million percent.
Waiting for Guaidó ...
Yay?
A bit of reality to the video, each 500 Bolivars banknote is worth just 7 cents each, most Venezuelans live on about $3 per month & even if they can find foods at the official subsidised prices, their money simply loses its value on a daily basis, thanks to maduro, russia & putin
I feel really bad for the people of Venezuela. I send you all my love 😍. NO MORE WARS FOR OIL! ImpeachDonaldTrumpNOW
I hear rat meat inflation is a mere 250000% socialism SocialismKills AOC jeremycorbyn
Foreign interference is the reason why.
So you're saying there's hope? 500,000%, here we come.
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