“Last month’s consumer price rises, up from 4.3 percent in April, took Venezuela’s annualized inflation rate to a startling 35.2 percent, the highest in the Americas. A lack of hard currency has left businesses struggling to import key consumer products. Long queues at shops, and even scuffles, have become common as Venezuelans face shortages of basic goods from toilet paper to wheat flour. A devaluation of the bolivar currency in February, and heavy government spending throughout 2012 when Chavez won re-election, have exacerbated price pressures in Venezuela, which has for decades suffered high inflation.”
http://www.reuters.com/article/2013/06/06/venezuela-economy-idUSL1N0EI1HF20130606
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