Venezuela’s inflation reached 130,060% last year, according to the Central Bank in its first inflation report in the past three years. In April of this year, inflation was 33.8%.
The report also said consumer prices in the country rose by almost 200% (196.6) in January, 114.4% in February and by 34.8% in March.
Venezuela’s inflation in 2017, was 862.6%, and 274% in 2016.
The Central Bank of Venezuela published its previous report in 2015 when the cumulative annual inflation was 180.9%.
The country’s gross domestic product (GDP) in the third quarter of 2018 fell by 22.5%year-on-year.
Earlier in March, a member of the country’s opposition-controlled parliament, Jose Guerra, said that the year-to-year inflation from February 2018 to February 2019 was 2.296 million percent.
Since mid-2016, inflation data has been published by the opposition parliament.
Financial and economic sanctions imposed by the U.S. have aggravated Venezuela’s economic outlook, the International Monetary Fund (IMF) expecting the GDP to fall by a quarter in 2019, by another 10% next year. The IMF also expects inflation in Venezuela at 10 million percent in 2019 and 2020.
