HYPERINFLATION: Socialist Venezuela’s Inflation Rate Is Over 440,000%

The corrupt socialist state has the largest oil reserves on earth, yet their economy is collapsing into the abyss.

The inflation rate in Venezuela has reached a staggering 440,000% – far above the ‘official’ figures put forth by the socialist government.

That calculation was made by Bloomberg, who found a way around the widely-distrusted inflation figures put forth by the Venezuelan authorities.

By studying the price of a cup of coffee at the same bakery in Caracas over time, they have found the true inflation rate, and it is horrendous.

It’s called the Cafe Con Leche Index, and it shows that the price of a cup of coffee has increased from 5,500 bolivars to 45,000 bolivars in just the past three months.

That equals an annualized rate of inflation of 448,025%.

By contrast, the inflation rate at the end of last year was 1,718%, showing how rapidly the already-weak currency is being devalued.

Clearly, Venezuela has officially reached hyperinflation territory.

The failure of socialism

There is no more fitting example of socialism’s failure than the fact that Venezuela is collapsing economically despite having the largest proven oil reserves on the planet.

Despite all the socialist claims of “equality” and “justice,” the leaders of Venezuela are rich and well-fed while their people starve and suffer in poverty.

In Venezuela today, the only equality is the equality of terrible suffering enveloping the majority of the population, and justice exists only for the government-connected elites.

That won’t change until Venezuela is freed from their socialist government, and we must all learn the lesson of how dangerous the socialist ideology truly is. It’s sold on dreams of a utopian future, but it ends in a brutal nightmare.

Spencer Fernando

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Bruce
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Bruce

I wonder how Canada and Alberta/SK/BC will fare if their their socialist governments are re-elected? Venezuela 2.0.

Nancy
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Nancy

Look at Ontario, it was a “have province” when it was Conservative, it was the engine of Canada many years ago. Then we went NDP/Liberal and have been failing and going into more and more debt ever since, now a “have not” province. Everything is controlled by these NDP/Liberal government socialist overbearing laws, that helped anything that was putting more money in their pockets and pushing us into bigger debt taxes and government controlled utilities supposedly to protect us,( now with so much debt they started selling them off). They interfered in private business so much that they went bankrupt… Read more »

Nancy
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Nancy

Put another way, I have never wanted to be rich or famous, greedy taking everything off others. We all want to live comfortably with dignity and respect, being comfortable that our “elected” government will treat us fairly and not take us into debt with their desire to be rich and help the elites control and take everything for themselves, when we can all live with dignity and respect helping one another respecting each other as we are all different, but the majority just want polite real respect and the ability to feel safe from these so called elites taking our… Read more »

Bruce
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Bruce

Peter, in Canada the Liberal and SpeNDP parties, federally and provincially, create government control of businesses, education, employment, healthcare through suffocating regulations, taxation, divestment, takeovers, social engineering and more. Spencer is clearly speaking about socialism, an ideology and political movement, that has led Venezuela to destruction. I believe Canada is being led down the socialist path. Trudeau and Wynne are elite socialists hiding behind the banner of liberalism but doing what socialists do i.e reducing or eliminating freedoms and creating dependence on an all powerful government bureaucracy. Government BY the people has become government OF the people.