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1660%: Venezuela inflation rate in 2017
Venezuela has been grabbing world media headlines with stories of hyper-inflation. Rucksacks full of cash have been required to pay bills at restaurants or supermarkets, according to press reports.
The International Monetary Fund predicts that Venezuela’s inflation could average 475% in 2016.
If you think that sounds awful, wait until you hear the IMF’s forecast for next year. It estimates inflation hitting 1,660%.
Unemployment rates are expected to hit 21.4% which is nearly three times the 7.4% rate seen in 2015.