Venezuela’s Monthly Inflation Rate Spiked to 62.5% in August 2019

2019-9-22 01:59

Inflation is a very problematic financial situation which is often underestimated. Anyone who never had to deal with such a problem can’t fully grasp the consequences. In the case of Venezuela, things continue to grow progressively worse. The country is dealing with an inflation rate of 62.5, which is absolutely mind-boggling. 

Venezuelan Crisis Isn’t Over

For numerous year snow, the financial situation in Venezuela has become unstable. Even a change in the presidency has not offered much relief to the struggling nation. Its inflation rate is well-documented, yet it seems there is no way to turn the downward slope into a status quo. An interesting, albeit extremely worrisome situation has been created because of this.

New reports by the National Assembly aren’t helping much either in this regard. In August of 2019, Venezuela’s inflation rate hit a high of 62.5%. It is also the second time the monthly inflation rate is higher than 50% in 2019. Turning this situation around is crucial, yet it seems no viable solution is accessible at this time. Nor will there be any positive changes for quite some time to come. 

Hyperinflation Isn’t Ending

Earlier this year, there were some individuals who claimed Venezuela’s economy would exit the hyperinflation status and simply enter “regular inflation”. By the sound of it, that wouldn’t make much of a difference, but one has to start somewhere. Unfortunately for this country, one needs 12 consecutive months with inflation rates below 50% to escape the “hyper” term. So far, the country failed to note such a trend.

To make matters worse, there is no real indication that the current economic policy in the country will help turn the ship around. Instead, it seems as if the government is more than happy to leave things be as they are today. Even if that means there will be even more inflation in the future, there will seemingly be no intervention to take note of. Additionally. Venezuela is currently in the top 12 countries with the longest hyperinflation trend in history. 

What Comes Next?

Recovering from inflation itself is difficult enough. Dealing with multiple hyperinflation spikes every year is virtually impossible. There doesn’t appear to be any recourse as far as Venezuela is concerned, regardless of what the government or central bank may attempt. As a result, the inhabitants of this country will continue to struggle to make ends meet. No viable solution exists to end this vicious cycle, which will undoubtedly have consequences for the global economy as well. 

Image(s): Shutterstock.com

The post Venezuela’s Monthly Inflation Rate Spiked to 62.5% in August 2019 appeared first on NullTX.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

GrownCoin (GROW) íà Currencies.ru

$ 0 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: 0.00 %
Cåãîäíÿ L: $0 - H: $0
Êàïèòàëèçàöèÿ $0 Rank 99999
Äîñòóïíî / Âñåãî 0 GROW

inflation venezuela rate august 2019 monthly spiked

inflation venezuela → Ðåçóëüòàòîâ: 49


Ôîòî:

Venezuelans Fighting Economic Hardship Discover Crypto’s True Potential

For quite some time now, Venezuela has been suffering from a political crisis and a collapsing economy. Venezuelans dealing with rampant inflation continue to see their purchasing power decline. After witnessing one of the worst economic disasters in modern history, 4 million citizens have emigrated to seek a better form of money, shelter, and to […] The post Venezuelans Fighting Economic Hardship Discover Crypto’s True Potential appeared first on Bitcoin News.

2019-9-6 03:30


Ôîòî:

P2P Bitcoin And Dash Transactions Soar In Venezuela

Venezuela’s inflation rate topped 130,000% in 2018 as peer-to-peer Bitcoin and Dash transactions reached new all-time highs month after month.   Bitcoin Thrives in Broken Economies For the past few years, the Venezuelan economy has been rocked by political and economic instability that has led to shortages of food and medicine, nationwide blackouts, riots and unstoppable hyperinflation that rivals that of the Zimbabwe dollar in the 1990s.

2019-8-20 14:00


Venezuelan Economic Professor Shares Passion Behind Cryptocurrency Advocacy in Spite of Bolivars Uselessness

As many of our readers are probably well aware of, the South American nation of Venezuela is currently in the midst of its worst ever financial crisis— with inflation rates currently at an all-time high due to a host of international economic sanctions that have been levied against the nation. As a result of all […]

2019-3-11 19:42


Bitcoin’s Benefits Rise to the Top Against Not Only Inflation, but a Cashless Society Proposition Too

Bitcoin (BTC) continues to be in a bear market but it does not mean that its fundamentals are also weakening. Indeed, Bitcoin’s features besides its price continue to expand as time passes. Bitcoin can be used as a hedge against inflation in many countries such as Venezuela, additionally, it is also possible to think of […]

2019-2-13 20:00


Ôîòî:

Leading Economist Touts Crypto To Relieve Hyperinflation

Dr. Doom might not be a fan, but some economists are coming around to the blockchain’s potential for cross-borders trades. Dr. Steve Hanke, a leading scholar in currency economics and hyperinflation, is spearheading an initiative to raise funds to benefit the people of Venezuela, which is now suffering from an annual inflation rate of over […] The post Leading Economist Touts Crypto To Relieve Hyperinflation appeared first on Crypto Briefing.

2019-1-15 01:12