Inflation Roars Back in Venezuela
A street vendor holds up a new 500 Bolivar banknote in Caracas, Venezuela, on Jan. 17, 2017.
Photographer: Carlos Becerra/BloombergThis article is for subscribers only.
There’s been a lot of buzz in Venezuelan financial circles recently about how inflation has taken off once again.
Our Cafe Con Leche Index, however, was showing no such thing. Until now. After three straight months of no increases in the price of a cup of coffee, it shot up 22 percent this week to 2,800 bolivars. That brings the inflation rate over the past 12 months to 460 percent.