New high for Venezuela's hyperinflation

|By:, SA News Editor

Prices in Venezuela rose almost 24,600% in the 12 months ended May 31, according to the country's opposition-led National Assembly, though the numbers are broadly in line with those of independent economists.

Venezuela's central bank has not published inflation data for more than two years. Inflation in May alone was 110%, amid an economic crisis that has seen serious shortages of food and medicine.