Venezuela’s bout of hyperinflation began on November 13, 2016, when the monthly inflation rate first breached the 50% per month hyperinflation threshold. The chart below paints the picture of Venezuela’s hyperinflation calamity. In 2013, after the Banco Central de Venezuela (BCV) stopped reporting inflation statistics on a regular basis, we began measuring Venezuela’s inflation. That is why PPP holds and why we can use high-frequency (daily) data to calculate Venezuela’s inflation rate. With that in mind, let’s take a look at the International Monetary Fund’s (IMF) treatment of Venezuela’s inflation.

Source: Forbes April 25, 2018 20:00 UTC