“This week, Venezuela’s congress was stripped of its powers over the budget, viewed as a move by the country’s President Nicolas Maduro as an attempt to consolidate power. On top of this, the country lacks many basic goods and inflation is out of control. Year-on-year inflation is expected to reach 700 percent this year and UBS forecasts it will reach 1,500 percent next year.”
Source: Inflation in Venezuela seen hitting 1,500% in 2017 as crisis goes from bad to worse
