03 January 2012

VENEZUELA : Chavez's 27% Inflation Trails Only Ethiopia...As World's Worst.

                                        AP / F.SANCHEZ/ Long read

     The government recently reported an annual inflation rate for 2011...of 27%.
     Only Ethiopia...with 31.5%...has a higher rate.
     Experts predict that President Hugo Chavez will spend and print more money...ahead of his re-election bid.
     Barclays projects more than 36% inflation there in 2012.
     Venezuela has led the Americas in inflation for 6 consecutive years.
     And Chavez increased the amount of the currency...bolivars...about 40% in 2011.
     His popularity however continues to hover around 50%.