Venezuela’s Central Bank (BCV) has confirmed December’s 7.6% marked the 12th consecutive month with inflation below 50% for an yearly total of 686.4%, it was announced. December 2021 was the fourth consecutive month with a single digit figure, after inflation rose 7.1% in September, 6.8% in October and 8.4% in November. In fact, December 2020 was the last month in which the INPC registered an increase of more than 50%, specifically 77.5%. Full text -> MercoPress

Traducción de cortesía -> El Banco Central de Venezuela (BCV) confirmó que el 7,6% de diciembre marcó el 12º mes consecutivo con una inflación por debajo del 50% para un total anual de 686,4%, se anunció. Diciembre de 2021 fue el cuarto mes consecutivo con una cifra de un dígito, luego de que la inflación subiera 7,1% en septiembre, 6,8% en octubre y 8,4% en noviembre. De hecho, diciembre de 2020 fue el último mes en el que el INPC registró un incremento de más del 50%, concretamente del 77,5%. Para traducir el texto completo use -> Google Translación

During UCAB’s Perspectives 2022 forum economist Luis Bárcenas said that the inflation dynamics are changing in the country. He thinks that hyperinflation will be over by early 2022, because of the availability of foreign currency, cutting down on public spending and restrictions on banking credit. He said citizens distrusting their currency is the beginning of hyperinflation but that hasn’t changed, but they foresee monthly inflation rates lower than 10% and a “7% expansion of economic activity,” which, compared to an 80% contraction is an improvement, even though it’s still insufficient. Bárcenas revealed the regime has a 2,300 million dollar deficit and obtains its main income from the black market economy and exporting non-conventional products like scrap metal or wood. In addition, Venezuela receives around 8,000 million dollars for drug trafficking, gold and extortion. . By Naky Soto. Full Text->CaracasChronicles

Traducción de cortesía -> Durante el foro Perspectivas 2022 de la UCAB, el economista Luis Bárcenas dijo que la dinámica de la inflación está cambiando en el país. Piensa que la hiperinflación terminará a principios de 2022, debido a la disponibilidad de divisas, la reducción del gasto público y las restricciones al crédito bancario. Dijo que la desconfianza de los ciudadanos en su moneda es el comienzo de la hiperinflación, pero eso no ha cambiado y que se prevén tasas de inflación mensual inferiores al 10% así como una “expansión del 7% de la actividad económica”, lo que, frente a una contracción del 80%, es una mejora, aunque todavía es insuficiente. Bárcenas reveló que el régimen tiene un déficit de 2.300 millones de dólares y que obtiene sus principales ingresos de la economía de mercado negro y de la exportación de productos no convencionales como chatarra o madera. Además, Venezuela recibe alrededor de 8.000 millones de dólares por tráfico de drogas, oro y extorsión.

. El país caribeño va camino de marcar su octavo año consecutivo de recesión, un periodo en el que su economía ha borrado el 80% de la riqueza que tenía antes de que Nicolás Maduro se hiciera con el poder. Pero la recesión ha tenido un efecto positivo: la hiperinflación se está frenando, y podría terminar a principios de 2022, justo antes de batir el récord histórico de la crisis más larga de la historia, que sigue teniendo Nicaragua. Por Víctor Ventura. Texto Completo-> ElEconomista

Traducción de cortesía -> The Caribbean country is on track to mark its eighth consecutive year of recession, a period in which its economy has erased 80% of the wealth it had before Nicolás Maduro seized power. But the recession has had a positive effect: hyperinflation is slowing down, and it could end in early 2022, just before breaking the all-time record for the longest crisis in history, which Nicaragua continues to have.

Take the annual budget of an oil-producing country and keep it in local currency untouched. Wait 14 years, and that money, then equivalent to 50 billion dollars, will be worth 25 cents on the dollar. Unlikely? It has happened in Venezuela. Full Text-> TheRioTimes

Traducción de cortesía -> Tome el presupuesto anual de un país productor de petróleo y manténgalo intacto en moneda local. Espere 14 años, y ese dinero, entonces equivalente a 50 mil millones de dólares, valdrá 25 centavos de dólar. ¿Improbable? Ha sucedido en Venezuela.

The figures would be even worse without the elimination of zeros in previous years, we are talking about 14 zeros being removed in total over 13 years. Without the reconversions, one dollar would be equivalent to Bs. 400,000,000,000,000,000,000 at the current exchange rate, an obscene figure that reflects the true economic state that hits Venezuelan families every day. By Edgary Rodríguez R. Full Text-> GlobalComment

Traducción de cortesía -> Las cifras serían aún peores sin la eliminación de ceros en años anteriores, estamos hablando de que se eliminen 14 ceros en total a lo largo de 13 años. Sin las reconversiones, un dólar equivaldría a Bs. 400,000,000,000,000,000,000 al tipo de cambio actual, una cifra obscena que refleja el verdadero estado económico que golpea a las familias venezolanas todos los días.

The lines snake outside the state-owned banks of Caracas virtually every day as Venezuelans wait to withdraw cash.“We are only in line for transit fare,” a nurse named Karina tells a reporter as she waits to withdraw the maximum 400,000 bolivars.Four hundred thousand bolivars might sound like a lot. It’s not. It’s roughly the equivalent of twenty cents. “With that, you cannot even buy a caramel,” Karina says glumly. By Jon Miltimore. Full Text -> Foundation for Economic Education (FEE)

Monthly inflation in Venezuela was 50.9% in February and the accumulated 134.2%, according to an economic analysis office that responds to the opposition leader Juan Guaidó and that measures the increase at through a national consumer price index. Full Text -> InspiredTravel

According to a statement from the country’s central bank, Venezuela will also be printing 200,000 and 500,000 bills along with the 1,000,000 bills.The move comes as hyperinflation has made smaller bills superfluous and worthless – and most citizens are “turning to the U.S. dollar for everyday transactions,” Bloomberg notes, adding “About 66 percent of transactions across the country are (now) estimated to be made in foreign currency.” By Paula Froelich. Full Text -> NewYorkPost

Venezuela ended 2020 with inflation of nearly 3,000 percent, the central bank said Thursday. The oil-rich country is mired in the worst economic crisis of its modern history and struggling through its seventh straight year of recession. Venezuelans endure acute shortages of food and medicine and even such basics as soap and toilet paper.The inflation figure for 2019 was 9,585 percent, the bank said. Full Text -> ABSCBNNews

Based on Hanke’s Annual Inflation Rate model, Lebanon is seen to have surpassed Zimbabwe, landing as the second most hyperinflated in the world, right after Venezuela.Lebanon’s inflation rate reached a high 365%, which is 3 times its percentage rate of August where it was at 120%. By Reem Ezzedine. Full Text ->Lebanon News