The government’s plan to fight hyperinflation is going about like you’d expect. The New Venezuelan Currency Is Just Three Weeks Old and Inflation’s Already 100%.
After a week and a half of no changes in the Bloomberg Cafe Con Leche Index, the price of a cup of coffee has surged the past two weeks, climbing to 50 bolivars from 25 bolivars. For those still struggling to get used to the new pricing system, 50 of today’s bolivars equals 5 million of the old ones.
Annual inflation is ABOVE 100,000 percent.