Photographer: Negative Space
“Venezuelans are living through one of the worst hyperinflation episodes ever recorded since the end of World War Two,” wrote Pablo Uchoa for BBC World Service News on September 22, 2018.
Uchoa continued, “Prices have hit a new high in August, peaking at 65,000% a year, says Steve Hanke, a professor of applied economics at Johns Hopkins University, Baltimore, and one of the world’s leading experts on hyperinflation.
Under President Nicolas Maduro, inflation stands at around 150% a month, says Prof Hanke – hyperinflation is defined as when inflation rates are greater than 50% per month and persist for more than 30 consecutive days.”
Read the full article here.
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