Venezuela reports 2020 inflation of 3,000 percent

Agence France-Presse

Posted at Feb 12 2021 11:53 AM

Venezuela reports 2020 inflation of 3,000 percent 1
Venezuelans ride on a motorcycle at a street in the popular Petare neighborhood within the framework of the flexible week that is part of the program established by the government to prevent the spread of COVID-19 in Caracas on January 11, 2021. The government program known as 7-7 allows many shops, workshops and companies to open their businesses during the flexible week and closes them during the radical week. Agence France-Presse

CARACAS, Venezuela - Venezuela ended 2020 with inflation of nearly 3,000 percent, the central bank said Thursday.

The oil-rich country is mired in the worst economic crisis of its modern history and struggling through its seventh straight year of recession.

Venezuelans endure acute shortages of food and medicine and even such basics as soap and toilet paper.

The inflation figure for 2019 was 9,585 percent, the bank said.

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© Agence France-Presse

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