Inflation in Venezuela in 2018 was 130 060%

Inflation in Venezuela in 2018 was 130 060 percent. The central bank said after four years of silence.

Economic data are, in principle, strictly kept secret from the authoritarian regime of Nicolas Maduro. The country's economy shrunk by 19.2% in the first nine months of 2018 on an annual basis, as private consumption has fallen sharply and inflation has risen.

Between 2013 and 2018, Venezuela's economy shrunk by 47.6 percent, according to data from the central bank.

Against this background, the International Monetary Fund estimated last year's inflation in Venezuela at 1 million and 370 thousand percent in April. For 2019, the IMF predicts in its report inflation of 10 million percent.