130,060% inflation recorded in Venezuela in 2018 – central bank

YEREVAN, MAY 29, ARMENPRESS. Inflation in Venezuela comprised 130,060% in 2018, according to the report of the country’s Central Bank released on May 28, reports TASS.

Venezuelan economy shrunk by 47.7% since 2013.

The report said that revenue from oil sales stood at around $29.8 billion in 2018, which is 5.6% less than in the previous year.

Venezuela has been going through an acute social-economic crisis over the last few years, accompanied by the devaluation of national currency and hyperinflation. The International Monetary Fund (IMF) said that inflation in Venezuela may reach 10 million percent by the end of 2019.